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New York

Real estate

STAR credit, seller disclosures, transfer and mansion tax, the senior citizens exemption and market notes for New York.

By who it's for

The real estate posts, sorted by who they are written for.

  • Buyers (6 articles). Making an offer, inspections, financing and closing. RSS
  • Sellers (5 articles). Preparing, pricing, required paperwork and closing. RSS

Articles

New York Transfer Tax and Mansion Tax: Who Pays

New York State charges a transfer tax of $2 per $500 of the sale price, usually paid by the seller. Buyers of homes at $1 million or more also pay a 1% mansion tax, and New York City adds its own transfer taxes.

New York Seller Disclosure: The PCDS and Flood Questions

Most New York sellers of one- to four-family homes must give buyers a signed Property Condition Disclosure Statement before the buyer signs a contract. Since March 20, 2024, the $500 credit option is gone and the form asks about flood risk.

New York STAR Credit: How Much and How to Register

The New York STAR credit is a yearly check or direct deposit that helps pay school taxes. The amount depends on your school district and home value. New buyers get the credit, not the old exemption, and only need to register once.

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