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A property sells for $800,000 in NYC. The transfer tax (state + city) is approximately:

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Question & Answer

Review the question and all answer choices

A

$3,200

B

$14,000

Correct Answer
C

$8,000

D

$20,000

Why is this correct?

NYC transfer tax is about 1.425% for properties under $500K, higher for above. Combined approximately 1.4-1.825%.

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