If you sell a house or an apartment in New York City (NYC), you must pay a
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If you sell a house or an apartment in New York City (NYC), you must pay a real estate transfer tax to both the city and the state. A real estate blog asks the question “Who Pays Transfer Taxes in NYC?” and gives the answer “Generally speaking, in NYC, the seller covers the transfer tax.” Does this answer mean that the real estate transfer tax does not impose a burden on the buyer of a house or an apartment in New York City? Briefly explain.
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The statement that the seller covers the transfer tax in New York City generally means that the sell...View the full answer
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