NYC Mortgage Recording Tax Calculator
Calculate the 1.8%-2.8% mortgage recording tax and see how a CEMA can save you thousands
New York Calculator
Get accurate results
Updated for 2025 with real New York rates, brackets, and regulations
New York charges a mortgage recording tax that doesn't exist in most states. In NYC, the combined rate is 1.8% on loans under $500,000 and 2.05% on loans of $500,000+. For a typical $800K mortgage, that's $16,400 in tax alone — due at closing. A CEMA (Consolidation, Extension, and Modification Agreement) lets buyers of co-ops or refinancers pay tax only on the new money, potentially saving tens of thousands.
Calculate Your NY Tax
Mortgage Recording Tax
$16,320
Borrower Portion
$13,120
Lender Portion
$1,600
NYC Additional
$1,600
Transfer Tax
$11,400
Total Closing Taxes
$27,720
Tax Rate
2.050%
Breakdown
Insight
On a $640,000 mortgage in Manhattan, you owe $16,320 in recording tax (2.050% rate). Total closing taxes: $27,720.
AI Explanation
What This Means
Based on default inputs, the NYC Mortgage Recording Tax Calculator shows a mortgage recording tax of $16,320. Key figures: Borrower Portion: $13,120, Lender Portion: $1,600, NYC Additional: $1,600, Transfer Tax: $11,400, Total Closing Taxes: $27,720, Tax Rate: 2.050%.
Key Insights
On a $640,000 mortgage in Manhattan, you owe $16,320 in recording tax (2.050% rate). Total closing taxes: $27,720.
What You Can Do
Enter your actual figures in the calculator above for a personalized breakdown. Consider consulting a tax professional for comprehensive planning, especially for complex situations involving multiple income sources or deductions.
Keep In Mind
This calculator provides estimates based on 2026 rates. Actual tax liability may vary based on credits, exemptions, and other factors not captured here. This is for educational purposes only and should not be considered tax advice.
How the NYC Mortgage Recording Tax Calculator Works
The NYC Mortgage Recording Tax Calculator uses 2026 tax rates, brackets, and deductions specific to New York to provide you with an accurate estimate of your tax obligations. Unlike generic federal-only calculators, this tool accounts for the unique tax structure that New York residents face.
Formula
Mortgage Tax = Loan Amount x Rate (1.8% under $500K, 2.05% at $500K+)Simply enter your financial details above, and the calculator instantly computes your results using the latest available data. All calculations happen directly in your browser — your personal information is never sent to any server or stored anywhere.
Why Use a New York-Specific Calculator?
State-Specific Rates
Uses real 2026 New York tax brackets, rates, and thresholds — not generic national averages that miss state-level nuances.
Local Programs & Exemptions
Factors in New York-specific programs, exemptions, and deductions that national calculators simply don't account for.
Instant & Private
All calculations run locally in your browser. No account required, no data stored, no waiting for results.
AI-Powered Explanations
Get a plain-English breakdown of your results with actionable insights you can actually use for financial planning.
What's Included
Borough Rates
Accurate rates for all 5 boroughs and surrounding counties
CEMA Savings
Calculate how much a CEMA assignment saves on refinances and co-op purchases
Closing Cost Integration
See mortgage tax as part of your total NYC closing costs
Frequently Asked Questions
What is the NYC mortgage recording tax?
A tax paid when recording a new mortgage in NYC. Combined state+city rate: 1.8% on mortgages under $500K, 2.05% on $500K+. On an $800K mortgage, you'd pay $16,400.
What is a CEMA and how does it save money?
A Consolidation, Extension, and Modification Agreement lets you pay mortgage tax only on the difference between your new and old loan amounts. On a refinance from $600K to $700K, you'd pay tax on $100K instead of $700K — saving roughly $12,300.
Do co-ops have mortgage recording tax?
Co-op share loans aren't technically mortgages, so they don't trigger the mortgage recording tax. This is one financial advantage of co-ops over condos in NYC.
Is mortgage recording tax deductible?
The mortgage recording tax is not deductible as mortgage interest. However, it can be added to your cost basis when you sell the property, reducing capital gains.
Who pays the mortgage recording tax — buyer or seller?
The borrower (buyer) pays the mortgage recording tax in NYC. It's due at closing and is separate from the transfer tax (which the seller typically pays on properties under $1M).
Important Information for New York Residents
Tax laws in New York can change annually. This calculator is updated regularly to reflect the latest 2026 rates and regulations, but you should always verify important financial decisions with a qualified New York tax professional or CPA.
This tool is designed for informational and educational purposes. While we strive for accuracy using official New York Department of Taxation data, the results should be used as estimates for planning purposes only. Your actual tax liability may differ based on credits, special circumstances, and legislative changes that occur after our last update.
For filing deadlines, payment schedules, and official forms, visit the New York Department of Taxation and Finance website. If you have complex tax situations involving multiple states, business income, or significant investment gains, professional guidance is recommended.
Related New York Calculators
Try the Universal Version
Need a calculator that works for any state? Try our generic version: