Posted By Chuck McGrath - Member,
17 hours ago
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Please be advised that the New York State Department of Taxation and Finance has published the 2025 Residential Median Sale Price information by county. Consequently, the following transfer taxes are affected by this change: | Venue | County | Tax Rate | Old Exemption | New Exemption | | Town of Chatham | Columbia | 1.5% | $438,750.00 | $485,000.00 | | Town of Red Hook | Dutchess | 2% | $460,000.00 | $475,000.00 | | Town of New Paltz | Ulster | 1.5% | $425,000.00 | $437,000.00 | | Town of Marbletown | Ulster | 1% | $425,000.00 | $437,000.00 | | Town of Gardiner | Ulster | 1.25% | $425,000.00 | $437,000.00 | | Town of Rochester | Ulster | 1% | $425,000.00 | $437,000.00 | | City of Kingston | Ulster | 1.25% | $425,000.00 | $437,000.00 | Enter the new exemption amount in the appropriate transfer tax form for transactions closed on or after April 16th, 2026. Please note that this change will result in a decrease in transfer tax since the median sales price and resulting exemption have increased.
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