Finance category
Mortgage, loan, investing, tax, and money calculators.
Mortgage Recording Tax Calculator
Mortgages get stamped at recording. This calculator sizes the tax.
Total mortgage tax
$347,500
State tax
$210,000
City tax
$135,000
How the math works
Total = loan × (state + city) + fixed fees.
In NY, a CEMA structure avoids mortgage tax on the portion of a new loan that replaces an existing assumable mortgage. On a $12M loan with $8M assumable underneath, CEMA saves ~$130k vs full-new-mortgage recording. This is the single most valuable closing-cost optimization in NY.
How to Use
- Enter loan amount.
- Enter state mortgage tax rate %.
- Enter city/special district rate %.
- Enter additional surcharges.
- Read total mortgage tax.
Frequently Asked Questions
Where applicable?
New York state: 0.5-2.8% depending on jurisdiction (NYC commercial mortgages: 2.8%+). Florida: 0.35%. Tennessee: 0.115% + local. Many states don't have mortgage tax (CA, TX, many others).
Assignment vs new mortgage?
Assuming or assigning existing mortgage can avoid mortgage tax in some states (NY: consolidation and extension avoids tax on existing balance). Refinance with new lender triggers tax on full loan. Use CEMA (consolidation extension modification agreement) in NY to save.
Typical cost?
NY $10M loan: $280-300k at 2.8-3.0%. FL $10M: $35k. Major closing cost item when applicable. Factor into acquisition underwriting in states with mortgage tax.
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