NYC Income Tax Calculator
Income: Input your New York adjusted gross income (NYAGI) and subtract your standard deduction or estimated itemized deduction as well as dependent exemptions (if applicable).
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NYC Buyer’s Guide: How it Works From Start to Finish
Hauseit’s NYC buyer’s guide demystifies each step of the home buying process in The Big Apple. Learn about closing costs, the purchase timeline, financial requirements and more. Just starting your home-search? Consider reading this buyer’s guide from top to bottom [...]
How Much Are Buyer Closing Costs for a NYC Townhouse?
Buyer closing costs for a NYC townhouse are typically between 2% to 4% of the purchase price. Exact closing costs depend on the purchase price and whether you’re financing. Estimate your buyer closing costs in NYC using Hauseit's interactive calculator, [...]
Waiving the Mortgage Contingency Clause When Buying a Property in NYC
Waiving the mortgage contingency clause when buying a property in NYC can sometimes be the only way to compete with all-cash or non-contingent buyers. We define the concept of a mortgage contingency clause in NYC and explain the risks of [...]
What are NYC income tax rates?
New York City income tax rates are 3.078%, 3.762%, 3.819% and 3.876% depending on your tax bracket and filing status. Remember that NYC income tax is in addition to the state income tax that New York State charges.
Learn more in our comprehensive NYC Income Tax Guide.
What are New York State income tax rates?
New York State income tax rates vary from 4% to 10.9% of individuals’ New York adjusted gross income, depending on your tax bracket and what status you are filing. There are a total of nine income tax brackets in New York State. If you live in NYC, you are on the hook for both New York State and New York City income taxes.
How much are buyer closing costs in NYC?
Buyer closing costs in NYC are approximately 4% for condos and houses, 2% for co-ops and 6% or more for new developments, assuming you are financing. Closing costs may be lower for an all-cash purchase. You can reduce your closing costs and save up to 2% on your purchase by requesting a Hauseit Buyer Closing Credit, also known as a buyer agent commission rebate.
How to reduce your buyer closing costs in NYC
You can reduce or eliminate your buyer closing costs when purchasing a home in NYC by requesting a buyer agent commission rebate from Hauseit. Rebates are a legal and non-taxable way to reduce your buyer closing costs while receiving traditional, full-service representation from a seasoned buyer’s agent throughout the purchase process.
