What is the mortgage tax in Nassau County NY?

Mortgage Rates for the five boroughs of New York City can be found below the New York State counties. Skip to New York City Mortgage Tax Rates. County Nassau County Total Mortgage Tax 1.05% Borrower Portion 0.80% Lender Portion 0.25% Insurance Zone 2 Click to see full answer. Then, what is NYS mortgage tax?The mortgage recording tax requires purchasers to pay 1.8% on mortgage amounts under $500,000 and 1.925% on mortgage amounts above $500,000 in NYC (this includes the recording tax for both New York City and New York State). NY state imposes a mortgage tax of 0.5%.Likewise, how is mortgage recording tax calculated in NY? In NYC, the buyer pays a mortgage recording tax rate of 1.8% if the loan is less than $500,000 and 1.925% if more than $500,000 or more. Buyers of commercial property pay 2.55%. These rates are what the buyer is responsible for. Your mortgage lender will also contribute 0.25%. Also know, who pays mortgage recording tax in NY? Taxes, generally paid by the buyer/borrower, are due when the mortgage is recorded. On residential property worth $500,000 or less, the tax is 2.05%. On property of $500,001 and above, the rate rises to 2.175%. In each case, the mortgage lender pays 0.25% of the tax while the borrower pays the rest.What is the tax rate in Nassau County NY?8.625%