Mansion Tax and Luxury Transfer Tax Guide
High-value deals can stack ordinary transfer tax, mansion tax, supplemental tax, city tax, high-value municipal tiers, and title or recording charges.
Quick facts
- New York mansion tax: 1% at $1M+
- NYC supplemental tax: 0.25%-2.9% at $2M+ residential
- Toronto high-value MLTT: 4.40%-8.60% over $3M as of April 1, 2026
- B.C. residential tier: +2% over $3M
- Los Angeles Measure ULA: 4%/5.5%, with thresholds changing July 1, 2026
What to verify
- New York mansion tax starts at residential consideration of $1 million or more.
- New York City high-value conveyances can trigger additional state transfer tax layers.
- Toronto high-value MLTT tiers and B.C. residential value tiers should be checked before a luxury offer is firm.
Luxury and mansion transfer tax matrix
| Jurisdiction | Luxury tax layer | Trigger to verify |
|---|---|---|
| New York | Mansion tax: 1% at $1M+ | Residential real property or interest with consideration of $1 million or more. |
| New York City | Additional base tax at $3M residential or $2M non-residential; supplemental residential tax 0.25%-2.9% at $2M+ | High-value NYC conveyances where state supplemental taxes, NYC RPTT, and property classification all matter. |
| Toronto | High-value MLTT: 4.40%-8.60% over $3M as of April 1, 2026 | Qualifying one or two single family residences above $3 million, in addition to Ontario LTT. |
| British Columbia | Further 2% PTT on residential value over $3M | Residential property value above $3 million, or the residential portion of mixed-class property. |
| Los Angeles | Measure ULA: 4%/5.5%; thresholds change July 1, 2026 | City of Los Angeles transfers above the adjusted high-value thresholds, separate from LA County tax. |
| Santa Monica | Measure GS tier: $56 per $1,000 at $8M+ | Santa Monica real property transfers at the local high-value tier, plus Los Angeles County documentary tax. |
Official sources
Related calculators and guides
Next step
Before a luxury offer is firm, check every threshold and tax layer.
Common questions
What should I verify for Mansion Tax and Luxury Transfer Tax Guide?
High-value deals can stack ordinary transfer tax, mansion tax, supplemental tax, city tax, high-value municipal tiers, and title or recording charges. Key items include New York mansion tax starts at residential consideration of $1 million or more and New York City high-value conveyances can trigger additional state transfer tax layers.
What is the next step after using Mansion Tax and Luxury Transfer Tax Guide?
Before a luxury offer is firm, check every threshold and tax layer. Use the calculator result as a planning estimate, then verify final costs with the official authority and the professional handling closing.
Which official source supports Mansion Tax and Luxury Transfer Tax Guide?
Start with New York real estate transfer tax and mansion tax overview, then confirm the final treatment with the official authority and the professional handling the transaction.
Last reviewed: 2026-06-25. Estimates are educational and should be verified with the official authority and the professional handling closing.