This report, mandated by the New York City Charter, identifies and describes tax expenditure programs related to taxes administered by the City and provides tax expenditure estimates based on available data.
The Real Property Transfer Tax (RPTT) is imposed on the consideration for conveyances or transfers where the consideration exceeds $25,000. This report includes NYC transactions with the date of sale between January 1 and December 31, 2017.
The purpose of this rule is to set forth which rent–regulated class two real properties are eligible
for a Major Capital Improvement (“MCI”) tax abatement, as well as how such abatement shall be
The New York City Mortgage Recording Tax (MRT) is an excise tax imposed on the recording of a
mortgage on real property located in New York City, and is payable when the mortgage is recorded at the City Register’s Office