The following entities are usually exempt from paying the RPTT and/or RPTT fees:
These entities must still file the RPTT forms and prove they are exempt by filing an exemption letter with their RPTT forms. In the letter, they must quote the section of the law that applies to why they are exempt.
Non-governmental parties who acquire property from or transfer property to a national or state governmental body must file the RPTT return and pay the tax.
The type of sale or transfer of property and tax rate for each type determines the amount of tax due. The tax is usually paid as part of closing costs at the sale or transfer of property.
For Residential Type 1 or Type 2 sales or transfers:
For Real Estate Investment Trusts (REITS), sales and transfers are taxed at one-half the otherwise applicable rate, if certain conditions are met. Schedule R of Form NYC-RPT has more information.
For all other transfers:
RPTT forms must be filed online with ACRIS, NYC's Automated City Register Information System. The filing fee for a non-deed transfer is $100.
The RPTT form must be signed by all parties involved in the transfer (all buyers, all sellers, all grantees, all grantors, etc). The form must then be notarized. Any party who fails to sign the forms may be assessed appropriate penalties as a non-filer. The Department of Finance has 3 years from the filing to assess additional tax because the non-signing party has not filed a return.
The deadline to file the RPTT packet of forms and pay the tax to the City Register is thirty (30) days from the transfer date, even if the transfer is not subject to tax, or the tax is zero. There is a five-day grace period.
Transfer Date versus Filing Date
The transfer date is the date the property was sold or transferred to the new owner(s) and the filing date is the date the RPTT was filed with the Department of Finance Division of Land Records.
A late payment penalty and interest is charged for failure to file the RPTT return and pay by the deadline (within 30 days of the transfer date) and for failure to pay penalties and interest. The penalty and interest amount is based on the difference between the tax due date and the filing date. The late payment penalty is calculated only on the unpaid tax.
If a property buyer or seller files their RPTT documents late but pays their tax in full within 30 days of transfer, a late penalty will not be charged for the late filing.
Payments made within 5 days of the due date will be applied to the late penalty for the first month. Interest is charged on the tax amount from the day after the due date and not on the penalty until a tax warrant has been filed. Then interest on the penalty is calculated from the original due date. Interest is compounded daily.
From January 1, 2022 to March 31, 2022, the interest rate is 7.5%.
Once the filing is 60 days overdue, there is a minimum failure to file penalty amount.
There is also a bounced check fee of $20.
The New York City Department of Finance mails notices to grantors and grantees who file their RPTT forms after the 30-day deadline.
If you receive a "Notice of Penalty and Interest Due," you have 30 days to respond. If you do not agree with the balance due, you must submit a signed statement explaining why you disagree. If you agree with the balance due, you may pay:
Online
You can pay your RPTT penalty and interest online through City Pay.
You can pay by:
There is a service fee of 2% of the total paid when using credit and debit cards (Example: If your payment is $1,000, the service fee is $20).
There is no service fee for using Electronic check; there is a bounced-check fee of $20.
Payments will post in 2 or more business days.
In Person
Payments can be made at a DOF Business Center. To find a DOF Business Center, go to the DOF Business Center page.
By Mail
Send payment to:
NYC Department of Finance
Division of Land Records - RPTT Billing Unit
66 John Street, 13th Floor
New York, NY 10038
If you fail to respond within 30 days from the date of the "Notice of Penalty and Interest Due," a "Notice and Demand for Payment Due" will be issued.
The New York City Department of Finance mails notices to grantors and grantees who pay their RPTT after the 30-day deadline, or have not yet paid their RPTT.
If you receive a "Notice and Demand for Payment Due," you have 10 days to pay the balance due. If you do not agree with the balance due, you must submit a signed statement explaining why you disagree. If you agree with the balance due, you may pay:
Online
You can pay your RPTT penalty and interest online through City Pay.
You can pay by:
There is a service fee of 2% of the total paid when using credit and debit cards (Example: If your payment is $1,000, the service fee is $20).
There is no service fee for using Electronic check; there is a bounced-check fee of $20.
Payments will post in 2 or more business days.
In Person
Payments can be made at a DOF Business Center.
By Mail
Send payment to:
NYC Department of Finance
Division of Land Records - RPTT Billing Unit
66 John Street, 13th Floor
New York, NY 10038
Failure to make payment within 10 days from the date of the "Notice and Demand for Payment Due" will result in docketing of a warrant with the County Clerk. A warrant is a lien on real and personal property. It will be made available to credit bureaus nationwide and it will represent a serious detriment to your credit rating.
Online payments for NYC property taxes, parking tickets, camera violations, business taxes, and related fees and fines should only be made through the Department of Finance website or apps. Although the City may contract with some vendors, DOF doesn't approve or authorize any external applications, services, or websites that make payments on your behalf.
These external payment systems include, but aren't limited to, the following:
Any errors or issues that occur as a result of using these sites are your responsibility, including any penalty and interest or other related fees, costs, or charges.
Submit a written request, and include proof of payment (front and back of the cancelled check) or the receipts from the City Register/Division of Land Records showing payment, and a copy of the cover pages for the original real property transfer tax return filing to:
NYC Department of Finance
Business/Excise Tax Refund Unit
59 Maiden Lane, 20th Floor
New York, NY 10038
No interest is paid on Real Property Transfer Tax refunds.
The Department of Finance (DOF) may only discuss the RPTT case with the grantor(s) or grantee(s). Anyone other than the grantor(s) or grantee(s) must have a completed legal Power of Attorney on file with DOF to discuss the case.
You can get answers to questions about the tax or help with filing and paying.
By Phone
