Peconic Bay Transfer Tax Calculator: What to Expect

This simple calculator can help home sellers in Peconic Bay estimate their transfer taxes. To get a ballpark idea of the transfer fees you might pay in the Peconics, enter your home’s estimated selling price above.

Need a selling price? Try HomeLight’s free Home Value Estimator to see what your house might be worth. To receive a more accurate listing price, contact a top Peconic Bay real estate agent and request a Comparative Market Analysis (CMA), a report that will compare your home against nearby listed and recently sold properties.

How the Peconic Bay Transfer Tax is Calculated

New York’s transfer tax, known as a real estate transfer tax, is calculated at a rate of $2.00 per $500 of the property’s sale price.

New York also has a “mansion tax,” a transfer tax of 1% of the property’s value applied to transactions over $1 million.

All towns in Peconic Bay, except Riverhead, impose a transfer tax rate of 2.5%.

This was increased from 2% in 2023 to create a community housing fund. These towns include Southampton, Southold, East Hampton, and Shelter Island.

For example, if you sold your home for $660,000 (Peconic Bay’s median home price), you could expect to pay $16,500 in Peconic Bay transfer taxes.

»Learn more: Understanding Peconic Bay’s Transfer Tax: A Quick Guide

See the bigger home sale picture: To see what your entire home sale might cost, try HomeLight’s New York Seller Closing Cost Calculator. You’ll also get a preliminary look at your estimated net proceeds.

Does the Seller Always Pay the Peconic Bay Transfer Tax?

While it’s customary for the seller to pay the Peconic Bay transfer tax, who pays can sometimes be a point of negotiation between the buyer and seller during the closing process.

Some Peconic Bay home sales may be exempt, such as:

Transfers to or from a non-profit organization established for religious, charitable, or educational purposes, or for preventing cruelty to children or animals.
Transfers to any government entity that is exempt from tax payment.
Transfers made solely as security for a debt or a deed/instrument given solely to return such security.

Make Buying and Selling Easier: Most Peconic Bay sellers are also buyers looking to purchase a new home. With HomeLight’s Buy Before You Sell program, you can make a non-contingent offer on your new home and only move once. Watch this short video to learn more.

More Resources to Plan Your Peconic Bay Home Sale

Here are some additional tools to help you plan your Peconic Bay home sale:

Sell fast without paying fees or commissions: Get a cash offer today.

With HomeLight’s Simple Sale platform, you can receive a no-obligation, all-cash offer for your Peconic Bay home in 24 hours. If you accept the offer, you can close in as few as 10 days. Answer a few questions about your Peconic Bay home to get started. Along with your cash offer, you’ll also receive an expert estimate of what a top Peconic Bay agent might be able to get for your home. Receive both selling options with one tool.

As you look ahead to your next home purchase, here are some helpful buyer tools:

Peconic Bay Transfer Tax Calculator