Mansion Tax Calculator

About this calculator

A mansion tax is an additional real estate transfer or conveyance tax applied specifically to residential property sales above a set price threshold, layered on top of any standard transfer tax that already applies to all sales. New York State’s mansion tax, for instance, applies to residential sales of $1 million or more, and some cities such as New York City add their own supplemental tax with progressively higher rates at higher price tiers — so the tax owed depends on the sale price, the threshold that triggers it, and the applicable rate, which is often tiered rather than flat.

In its simplest form, the tax due is (sale price above the threshold, or the full price depending on the jurisdiction’s rule) × tax rate, but because some jurisdictions apply the rate to the entire sale price once the threshold is crossed (rather than only to the amount above it) and others use graduated brackets, the exact calculation varies by location. Real estate buyers, sellers, and closing attorneys estimate this tax during deal negotiation and closing cost planning, since on a high-value sale it can add a substantial and easily overlooked line item to the buyer’s or seller’s closing costs; this calculator estimates the mansion tax due from a sale price, threshold, and rate.