2023 New York Laws › TAX - Tax › Article 31 - Real Estate Transfer Tax › 1402-B - Supplemental Tax in Cities Having a Population of One Million or More.

§  1402-b.  Supplemental  tax  in  cities  having  a population of one
million or more. (a) In  addition  to  the  taxes  imposed  by  sections
fourteen  hundred  two and fourteen hundred two-a of this article, a tax
is hereby imposed on each conveyance of  residential  real  property  or
interest  therein  within  any city in this state having a population of
one million or more when the consideration for  the  conveyance  is  two
million  dollars or more. For purposes of this section, residential real
property shall include any premises that is or may be used in  whole  or
in  part  as  a  personal  residence,  and  shall include a one, two, or
three-family house, an individual condominium  unit,  or  a  cooperative
apartment  unit. Such tax shall be paid at the same time and in the same
manner as the  taxes  imposed  by  sections  fourteen  hundred  two  and
fourteen hundred two-a of this article.
The rate of such tax shall be:
(1)  one-quarter  of  one percent of the consideration or part thereof
attributable to the residential real property  when  such  consideration
for  the entire conveyance is at least two million dollars but less than
three million dollars;
(2) one-half of one percent  of  the  consideration  or  part  thereof
attributable  to  the  residential real property when such consideration
for the entire conveyance is at least three  million  dollars  but  less
than five million dollars;
(3)  one  and one-quarter percent of the consideration or part thereof
attributable to the residential real property  when  such  consideration
for the entire conveyance is at least five million dollars but less than
ten million dollars;
(4)  two  and one-quarter percent of the consideration or part thereof
attributable to the residential real property  when  such  consideration
for  the entire conveyance is at least ten million dollars but less than
fifteen million dollars;
(5) two and one-half percent of  the  consideration  or  part  thereof
attributable  to  the  residential real property when such consideration
for the entire conveyance is at least fifteen million dollars  but  less
than twenty million dollars;
(6)  two  and  three-quarters  percent  of  the  consideration or part
thereof  attributable  to  the  residential  real  property  when   such
consideration  for  the  entire  conveyance  is  at least twenty million
dollars but less than twenty-five million dollars; and
(7) two and nine-tenths percent of the consideration or  part  thereof
attributable  to  the  residential real property when such consideration
for the entire conveyance is at least twenty-five million dollars.
(b) Notwithstanding the  provisions  of  subdivision  (a)  of  section
fourteen  hundred  four of this article, the tax imposed by this section
shall be paid by the grantee. If the grantee has failed to pay  the  tax
imposed by this article at the time required by section fourteen hundred
ten  of  this  article  or  if  the grantee is exempt from such tax, the
grantor shall have the duty to pay the tax. Where the  grantor  has  the
duty  to  pay  the  tax  because the grantee has failed to pay, such tax
shall be the joint and several liability of the grantor and the grantee.
(c) Except as otherwise provided in this section, all  the  provisions
of  this  article  relating  to  or  applicable  to  the administration,
collection, determination and distribution of the tax imposed by section
fourteen hundred two of this article shall  apply  to  the  tax  imposed
under  the  authority  of this section with such modifications as may be
necessary to  adapt  such  language  to  the  tax  so  authorized.  Such
provisions  shall  apply  with  the  same  force  and effect as if those
provisions had been set forth in this section except to the extent  that

any provision is either inconsistent with a provision of this section or
not relevant to the tax authorized by this section.