In short
Peekskill charges 2 local taxes on a home sale: Peekskill Real Property Transfer Tax, NYS additional tax. On the median owner-occupied home ($395,600), local taxes come to $3,956; with the New York state tax of $1,584, the total is $5,540, or 1.4% of the price.
Median value: $395,600 median value of owner-occupied homes, Peekskill city, New York (Census ACS 2020-2024 5-year, table B25077). It is an owner estimate, not a sale price.
What you pay at different prices
| Price | Peekskill Real Property Transfer Tax | NYS additional tax ('mansion tax') | New York state tax | Total |
|---|---|---|---|---|
| $300,000 | $3,000 | $0 | $1,200 | $4,200 |
| $395,600 median home | $3,956 | $0 | $1,584 | $5,540 |
| $500,000 | $5,000 | $0 | $2,000 | $7,000 |
| $1,000,000 | $10,000 | $10,000 | $4,000 | $24,000 |
| $2,000,000 | $20,000 | $20,000 | $8,000 | $48,000 |
Before exemptions and credits (first-time buyers, transfers between relatives…), which are listed below when the source gives them. The tax due on your deed is the one the recorder computes.
The rates, tax by tax
Peekskill Real Property Transfer Tax
1% of the consideration on each conveyance of real property.
Who pays: The tax imposed hereunder shall be paid by the grantor to the City of Peekskill within 30 days after the delivery of the deed by the grantor to the grantee, but before the recording of such deed.
In force: Adopted 9-27-2010 by L.L. No. 11-2010. Source: City of Peekskill Code, Chapter 521, Article XI: Real Property Transfer Tax (ecode360).
NYS additional tax ('mansion tax')
State tax of 1% of the whole consideration on residential conveyances of $1 million or more (applies statewide, including NYC).
Who pays: The additional tax and supplemental tax are paid by the grantee, at the same time and in the same manner as the real estate transfer tax.
In force: In force. Source: NYS Tax Department, Instructions for Form TP-584-NYC (TP-584-NYC-I, 8/25).
Questions
How much local transfer tax do you pay on a median home in Peekskill?
$3,956 on $395,600, the median value of owner-occupied homes (Census ACS). Payotte computes it from the rates published by the official sources cited on the page.
Who pays the Peekskill Real Property Transfer Tax in Peekskill?
The tax imposed hereunder shall be paid by the grantor to the City of Peekskill within 30 days after the delivery of the deed by the grantor to the grantee, but before the recording of such deed.
Is the local tax on top of the New York tax?
Yes. The local taxes listed here are added to the New York state transfer tax.
General information drawn from the official sources cited and dated on this page. It is not legal, tax or financial advice: for your own situation, ask a licensed professional.