New York Mortgage Recording Tax: What Staten Island Buyers Need to Know

*Last reviewed: September 14, 2026*

If you're buying a home in Staten Island with a mortgage, one of your largest closing costs will be New York's mortgage recording tax. This tax can easily add thousands of dollars to what you owe at closing — but understanding how it works (and knowing about legal strategies like a CEMA) can help you plan accordingly and potentially save money.

This article covers qualifying one-, two-, or three-family residential properties and individual residential condominium units. Commercial, mixed-use, four-or-more-family, refinance, consolidation, and other transactions may require different analysis.

What Is the Mortgage Recording Tax?

The mortgage recording tax is a one-time tax charged by New York State and New York City when a mortgage is recorded with the county. Mortgage recording tax generally applies when a taxable mortgage is recorded against New York City property, including Staten Island, subject to exemptions, reductions, and transaction-specific rules.

Important: This is not a federal tax, not a property tax, and not something your lender charges you. It's a New York-specific tax that must be paid before your mortgage can be officially recorded.

Current Mortgage Recording Tax Rates in Staten Island

Staten Island (Richmond County) is part of New York City, which means buyers pay both state and city mortgage recording tax. Here's how the rates break down for qualifying residential properties:

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The table is a general educational summary. The applicable rate may depend on the property classification, mortgage structure, exemptions, consolidation, refinance, lender, and recording documents. Confirm the exact amount before closing.

The borrower commonly pays the borrower-assigned portion shown at closing. A lender-assigned portion may also apply, and the exact allocation should be confirmed from the applicable law and closing documents.

Official sources: NYC Mortgage Recording Tax | NYS Mortgage Tax

How Much Will You Actually Pay?

Let's look at real-world examples for qualifying residential mortgages. Each example shows the borrower-paid portion and the combined tax separately.

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For a qualifying residential mortgage, 1.925% of $600,000 is $11,550 as the commonly cited borrower-paid portion. The combined 2.175% amount is $13,050. The actual closing calculation must be confirmed for the transaction.

As you can see, this is not a small fee. On a $600,000 mortgage, the borrower-paid portion alone is $11,550 — separate from your down payment, attorney fees, title insurance, and other closing costs.

Who Pays the Mortgage Recording Tax?

The borrower commonly pays the borrower-assigned portion shown at closing. A lender-assigned portion may also apply, and the exact allocation should be confirmed from the applicable law and closing documents.

A taxable mortgage generally triggers mortgage recording tax, but exemptions, reductions, CEMA structures, refinances, and other special rules may apply in appropriate circumstances.

When Is the Tax Paid?

The mortgage recording tax is generally collected and paid as part of the closing and recording process. Staten Island documents are recorded through the Richmond County Clerk, while documents in the other four boroughs are generally handled through the NYC Register's Office and ACRIS.

Recording timing varies according to the county recording office, filing method, funding, document acceptance, holidays, and any filing defects.

Do You Have to Pay It If You're Paying Cash?

A purchaser who pays cash and does not record a mortgage generally does not incur mortgage recording tax on that purchase. Other taxes, recording fees, and closing charges may still apply.

What Is a CEMA and How Can It Save You Money?

A CEMA (Consolidation, Extension, and Modification Agreement) is a legal mechanism that may allow you to reduce mortgage recording tax by allowing previously recorded mortgage debt to be recognized in a consolidation, so that tax may apply to some or all of the additional debt. Learn more about what a CEMA is and how it can save on taxes.

The result is not determined simply by subtracting the old balance from the new loan. Eligibility, lender participation, prior recording, documentation, outstanding principal, consolidation terms, and applicable law must be reviewed.

The arithmetic difference between a new loan amount and an existing balance does not establish the legally taxable amount under a CEMA. The applicable rate and qualifying documents must be reviewed by the closing professionals.

When Is a CEMA Worth It?

A CEMA can save you thousands, but it's not always feasible:

• The seller must have an existing mortgage (it doesn't work if the seller owns the property free and clear)
• Both the seller's lender and your lender must agree to participate
• There are additional attorney fees and processing time involved
• The closing process can take longer

Your attorney can help you determine whether a CEMA makes financial sense in your specific transaction.

Are There Any Exemptions or Reductions?

New York provides exemptions, reductions, and special rules in specified circumstances. Eligibility is transaction-specific. Same-lender refinances, CEMAs, government or affordable-housing programs, and other structures should not be described as automatically exempt merely because they fit a general category.

Mortgage Recording Tax vs. Other Taxes

It's easy to confuse the mortgage recording tax with other real estate taxes in New York:

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The mortgage recording tax is separate from all of these.

What Happens If the Tax Isn't Paid?

If the mortgage recording tax is not paid, your mortgage cannot be recorded. This means:

• Your lender will not release the loan funds
• The seller will not receive payment
• The closing cannot be completed

This is why it's critical to have an experienced attorney handling your closing — they ensure all taxes and fees are calculated correctly and paid on time.

Final Thoughts: Factor This Into Your Budget

New York's mortgage recording tax is one of the largest, most overlooked costs for home buyers in Staten Island. Whether you're buying your first home or refinancing, understanding this tax and exploring strategies like a CEMA can save you thousands.

The key takeaways:

• For qualifying residential mortgages, budget for the borrower-paid portion: 1.80% under $500,000 or 1.925% at $500,000 or more
• The combined rate (including the lender-paid 0.25% component) is 2.05% or 2.175% respectively
• A CEMA may significantly reduce your tax burden if the seller has an existing mortgage — but eligibility and savings must be confirmed for your specific transaction
• An experienced attorney is essential for navigating this process and ensuring compliance

Ready to Close With Confidence?

With over 25 years representing Staten Island home buyers, I help clients understand every line item at closing — including mortgage recording tax and CEMA opportunities. Free initial consultation — flat-fee representation from contract through closing.

Call (718) 442-2010, text (718) 273-0001, or [schedule online](/about).

*This article provides general educational information and is not legal, tax, accounting, lending, or financial advice. Tax rates, exemptions, filing requirements, and closing practices may depend on the property, transaction structure, applicable law, and closing date. Confirm the current calculation with the appropriate attorney, lender, title company, closing agent, or tax professional.*