Bronx vs Westchester Transfer Taxes Explained

Wondering why closing costs can jump when you cross the city line from Riverdale into Yonkers or Tarrytown? If you are buying or selling in the Bronx or Westchester, transfer taxes play a big role in your bottom line. You want a clear, local breakdown so you can plan with confidence. This guide walks you through what applies where, how to estimate costs, and what to expect at closing. Let’s dive in.

Which transfer taxes apply

New York State Real Estate Transfer Tax (NYS RETT) applies statewide in both the Bronx and Westchester at 0.4% of the sale price.

New York City Real Property Transfer Tax (NYC RPTT) applies only to properties located in NYC, which includes the Bronx. Typical residential rates are 1.00% for sales of $500,000 or less and 1.425% for sales over $500,000.

New York State Mansion Tax applies statewide to residential sales at or above $1,000,000. Rates start at 1% and rise for higher price tiers. Use the 1% entry point for basic estimates and confirm the current graduated schedule before you sign a contract.

Bronx taxes at a glance

If the property is in the Bronx, you will typically see both NYS RETT and NYC RPTT. If the sale price is $1,000,000 or more, the state mansion tax also applies. Co-op, condo, and one-to-three family sales each follow specific filing rules, but the taxes generally apply in similar ways.

Westchester taxes at a glance

If the property is in Westchester, you will typically see NYS RETT and, if the sale price is $1,000,000 or more, the state mansion tax. There is no NYC RPTT in Westchester. Expect separate county recording and clerk fees, which are usually modest compared to transfer taxes.

Sample cost comparisons

These examples are for illustration. Always confirm current rates and exact amounts with your attorney, title company, or the relevant tax authorities.

Example: $400,000 sale

• Bronx (NYC):
  • NYS RETT: 0.4% × $400,000 = $1,600
  • NYC RPTT (residential ≤ $500k): 1.00% × $400,000 = $4,000
  • Mansion tax: not applicable
  • Approx total transfer taxes: $5,600
• Westchester:
  • NYS RETT: $1,600
  • No NYC RPTT
  • Mansion tax: not applicable
  • Approx total transfer taxes: $1,600

Example: $750,000 sale

• Bronx (NYC):
  • NYS RETT: 0.4% × $750,000 = $3,000
  • NYC RPTT (residential > $500k): 1.425% × $750,000 = $10,687.50
  • Mansion tax: not applicable
  • Approx total transfer taxes: $13,687.50
• Westchester:
  • NYS RETT: $3,000
  • No NYC RPTT
  • Mansion tax: not applicable
  • Approx total transfer taxes: $3,000

Example: $1,500,000 sale

• Bronx (NYC):
  • NYS RETT: 0.4% × $1,500,000 = $6,000
  • NYC RPTT (residential): 1.425% × $1,500,000 = $21,375
  • NYS Mansion Tax (starting tier shown at 1%): 1% × $1,500,000 = $15,000
  • Approx total transfer taxes: $42,375
• Westchester:
  • NYS RETT: $6,000
  • No NYC RPTT
  • Mansion tax (starting at 1%): $15,000
  • Approx total transfer taxes: $21,000

Key difference: The NYC RPTT significantly increases transfer taxes in the Bronx compared with Westchester for the same sale price.

Who pays and how it is set

Payment is negotiable in the purchase contract. In some NYC deals, sellers cover NYC RPTT, while in others buyers assume certain taxes. Customs shift by property type and market conditions, so confirm in writing.

Transfer taxes are paid at or before closing. Funds are collected by the closing attorney or agent, and required forms are filed. If taxes are not paid, deed recording can be delayed.

Exemptions and special cases

• Certain transfers between spouses or domestic partners, gifts, and transfers involving nonprofits or government entities can be exempt or treated differently.
• Co-op share transfers are generally subject to state and, if in NYC, city transfer taxes, but the filing process and forms differ from deeded property.
• Corporate reorganizations, trustee deeds, and foreclosures have specific rules. Ask your attorney to review your scenario.

Related closing charges to expect

Transfer taxes are only part of your closing costs. You may also see mortgage recording taxes if you finance, plus title insurance premiums, attorney fees, recording and clerk fees, and building or association fees for co-ops and condos. NYC mortgage recording tax rates are generally higher than suburban rates, while Westchester has its own structure.

What this means for you

• For buyers: When comparing a Bronx co-op in North Riverdale with a Westchester condo, build NYC RPTT into your Bronx estimate. If you are near $1,000,000, include the mansion tax in both places.
• For sellers: In Bronx sales, the NYC RPTT can reduce your net unless addressed in the contract. In Westchester, focus on NYS RETT, the mansion tax if applicable, and standard closing fees.
• For seniors and downsizers: If you are planning a move after many years, give yourself time to review tax estimates, exemptions, and filing steps. A calm, step-by-step plan keeps surprises off the table.

Next steps with local guidance

Your contract should clearly state who pays which taxes, when they are due, and who files the forms. A closing attorney or title officer can confirm the exact figures for your address and property type.

If you are weighing Riverdale versus nearby Westchester neighborhoods, get a side-by-side estimate tailored to your price point and timeline. For local, senior-sensitive guidance and clear numbers, reach out to The Advanced Home Team. Get your home valuation and a personalized closing cost plan today.

FAQs

Do Bronx transactions pay more transfer tax than Westchester?

• Yes. Bronx sales include NYC RPTT in addition to the NYS transfer tax, while Westchester sales typically only include the state tax and local recording fees.

Who usually pays the NYC RPTT in the Bronx?

• It is negotiable and set in the contract. Local custom varies by property type and market conditions, so confirm with your attorney before you sign.

Is the mansion tax the same in both places?

• Yes. The NYS mansion tax applies statewide at or above $1,000,000, starting at 1% and increasing for higher tiers in both the Bronx and Westchester.

Are there exemptions for first-time homebuyers?

• There is no blanket first-time buyer exemption for transfer taxes. Some limited programs or exemptions may apply in specific cases, so verify with your attorney.

Do co-op sales follow the same tax rules?

• Co-op share transfers are generally subject to state transfer tax and, in NYC, city transfer tax, though the mechanics and required forms differ from deeded properties.