New York Red Hook Transfer Tax Return (.pdf)

State:
New York
Control #:
NY-DS-11
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PDF
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Red Hook Transfer Tax Return (.pdf)
The New York Red Hook Transfer Tax Return (.pdf) is a document used by individuals and entities to report the transfer of real estate within the Red Hook area of Brooklyn, New York. The return must be completed and submitted to the Red Hook Transfer Tax Office in order to pay the applicable transfer taxes. The return includes information such as the transferor and transferee’s name, address, and Tax Identification Number; the property’s address and Tax Block & Lot Number; the transfer date and price; and the amount of transfer taxes due. There are two types of New York Red Hook Transfer Tax Return (.pdf): the Residential Return and the Commercial Return. The Residential Return is used for transfers of one- to three-family homes and condominiums, while the Commercial Return is used for transfers of all other properties.

The New York Red Hook Transfer Tax Return (.pdf) is a document used by individuals and entities to report the transfer of real estate within the Red Hook area of Brooklyn, New York. The return must be completed and submitted to the Red Hook Transfer Tax Office in order to pay the applicable transfer taxes. The return includes information such as the transferor and transferee’s name, address, and Tax Identification Number; the property’s address and Tax Block & Lot Number; the transfer date and price; and the amount of transfer taxes due. There are two types of New York Red Hook Transfer Tax Return (.pdf): the Residential Return and the Commercial Return. The Residential Return is used for transfers of one- to three-family homes and condominiums, while the Commercial Return is used for transfers of all other properties.

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FAQ

The NYC transfer tax rate is between 1% and 1.425% depending on the sale price; and in addition to what you'll owe the city, you'll also have to pay the New York state transfer tax, which is either 0.4% or 0.65% depending on the price of the property.

The minimum combined 2023 sales tax rate for New York, New York is 8%. This is the total of state, county and city sales tax rates. The New York sales tax rate is currently 4%. The County sales tax rate is 4%.

Closing costs include a traditional 6% broker fee, combined NYC & NYS Transfer Taxes of 1.4% to 2.075%, legal fees, a building flip tax if applicable as well as building and miscellaneous fees.

1 of 2007, codified as Article II of Chapter 57 of the Red Hook, Town Code, entitled ?Community Preservation.? The law imposes a two percent (2.0%) real estate transfer tax on each conveyance of real property or interest therein.

How Much is the NYC Mansion Tax in 2023? The NYC Mansion Tax is a buyer closing cost which ranges from 1% to 3.9% of the purchase price, applicable on residential purchases of $1 million or more in New York City.

TP-584 Fill-in. TP-584-I (Instructions) Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax; See notice about address change. See information about the STAR credit.

How To Avoid Paying NYC Transfer Tax? The only way to avoid paying NYC transfer tax is by selling your property through a 1031 exchange. A 1031 exchange allows investors to defer capital gains taxes on investment properties by reinvesting the proceeds from the sale into another qualifying property.

New York Transfer Tax Rates 2023 For example, if you're buying a home in New York City, you will pay 1.4% for homes sold under $500,000, 1.825% for those that go for $500,000 to $2,999,999, and 2.05% for any property that sells for over $3,000,000.

More info

For Conservation Purposes. Schedule B – Red Hook transfer tax return (Tax Law, Article 31-A-1).Part I — Computation of tax due. 1. A Town of Red Hook transfer tax form, similar to the TP-584, must be filed with the Dutchess County Clerk at the time the TP-584 return is filed. Red Hook Transfer Tax Form. Town of Warwick Transfer Tax Form. 61 KB; Town of Red Hook Transfer Tax The Request for Pistol Permit Transfer from Dutchess County Form (. If you sell property in Warwick or Red Hook, NY, you must pay a transfer tax to the town's Community Preservation Fund. Click here for more information.

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New York Red Hook Transfer Tax Return (.pdf)