For information regarding individual Property Taxes, on an address-by-address basis, you may want to contact the local Tax Assessor or Tax Receiver's offices in each of their respective Towns.
Town of East Hampton Assessors' Office: (Wainscott - Montauk)
300 Pantigo Place; East Hampton, NY 11937
Telephone: (631) 324-4187
Fax: (631) 324-4643
Jeanne Nielsen - Assessor
Jill Massa - Assessor
Eugene De Pasquale III - Assessor
Town of Southampton Tax Receiver: (Remsenburg - Sagaponack)
116 Hampton Rd.; Southampton, NY 11968
Telephone: (631) 283-6514
Fax: (631) 287-5732
Vincent J. Gaudiello - Tax Receiver
Gloria J. Palmore - Deputy
Incorporated Village(s) & Hamlet(s) Tax Receivers/Assessors' Office(s):
See individual government offices, or websites, for contact information (HFH's HAMPTONS INFO)
Regional Taxes and Closing Costs associated with real estate transactions which take place on the East End of Long Island.
The following are items that may, or may not, apply to any real estate purchase one makes on the East End of Long Island in the Town of Southampton (Remsenburg through Sagaponack) and in the Town of East Hampton (Wainscott through Montauk).
Should there be any further information, facts and figures that may assist you in your decision-making process, any information which we can supply you, please advise. We will do our best to pass it along with alacrity.
- Mortgage Recording Tax (only in the event the buyer secures a mortgage): At closing the buyer pays .80% of borrowed amount (ie: On $600,000 mortgage, the buyer pays a mortgage tax of $4,800.)
- CPF (Peconic Region) Tax: At closing the buyer pays 2% on the value of all improved residential property over $250,000 (ie: On $1,000,000 purchase, the buyer pays $15,000 to The Community Preservation Fund, Peconic Region.)
- CPF (Peconic Region): At closing the buyer pays 2% on the value of all unimproved property [vacant land] over $150,000 (ie: On $500,000 purchase, the buyer pays $7,000 to The Community Preservation Fund, Peconic Region.)
- Mansion Tax: At closing the buyer pays 1% of the sales price of $1,000,000 or over (ie: On $1,000,000 purchase, the buyer pays $10,000 to the State of New York.)
- Title Insurance Premiums (average): The buyer pays approximately $675 for the first $100,000; $190 for each additional $50,000 up to $500,000; $3.75 for each $1,000 between $501,000-$1,000,000 (ie: On $1,000,000 purchase, the buyer pays approximately $4,070 for Title Insurance.) When purchase is financed by a lending institution, additional insurance is often required.
- Survey Fees: The buyer is responsible for the cost(s) of a survey. If it is supplied by the seller, that is at no charge. Additions or alterations to an existing survey can vary in actual price.
- Inspection Fees: Prices vary for these services. Licensed Engineers, Certified Home Inspectors, pest control, etc. each are working for the buyer; and their fees are paid by the buyer. (An average inspection for a 3,600 sq. ft. house is approximately $750.)
- Appraisal Fees: The appraiser is working for your financial institution or mortgage broker. They will order the necessary appraisal(s); the costs vary (based greatly on the size and value of the property), and are passed on to you at the time of closing.
- Legal Fees: These fees can be either hourly or flat fee. For names and numbers of local attorneys you may choose to represent you, HFH would be happy to provide you with a couple of options.
- Adjustments: For instance, the oil in the tank, pro rated real estate taxes, etc. are as per negotiated between buyer and seller.
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