Investment Property Loans in Yonkers, NY

Yonkers charges its own real estate transfer tax of 1.5% of the selling price, paid by the seller; co-op sales are exempt and no tax is due on sales of $25,000 or less.

For investors: Price a Yonkers sale with the city's 1.5% added to the state's 0.4% seller transfer tax, which matters when an investor later exits a rental. Buyer and seller must both file the city return, even on a transfer where no tax is due.

Source: City of Yonkers, Real Estate Transfer Tax, Oct 2026

The Yonkers transfer tax is due within seven days after the deed is delivered and before it is recorded; late payment adds an 8% penalty for the first month plus 1% for each later month.

For investors: Recording at the Westchester County Clerk follows the city's stamped receipt, so the Yonkers filing belongs on the closing checklist. The city asks for 48 hours to process receipts and takes the return and receipt forms by email.

Source: City of Yonkers, Real Property Transfer Tax information sheet, Oct 2026

Mortgages on one- or two-family homes in Yonkers carry a 1.8% recording tax, less $30, versus 1.3% elsewhere in Westchester; for mortgages of $10,000 or less the Yonkers rate is 1.5% instead of 1%.

For investors: That half-point gap over the rest of Westchester belongs in the closing budget of every Yonkers purchase loan, and a refinance that records new mortgage debt on a Yonkers rental pays the higher rate again.

Source: Westchester County Clerk, Land Records Fees and Taxes, Oct 2026

Yonkers has adopted the state Emergency Tenant Protection Act for buildings with six or more apartments, so covered units follow increases set by the Westchester County Rent Guidelines Board.

For investors: A Yonkers building of six or more units may carry stabilized apartments whose renewals are capped, which limits rent growth after purchase. Check the county's ETPA unit database for the address before relying on market rents in an offer.

Source: Westchester County Department of Planning, Rent Control (ETPA), Oct 2026

For ETPA leases starting October 1, 2026 through September 30, 2027, the Westchester County Rent Guidelines Board capped increases at 3.5% for one-year and 4.5% for two-year leases, voting 5 to 4.

For investors: Those caps let a buyer project 2026-27 rent growth on stabilized Yonkers units with some precision. The board's owner survey found operating expenses averaging about 75% of income across Westchester ETPA buildings, a useful check on a seller's expense claims.

Source: NYS Homes and Community Renewal, 2026-27 Westchester County Rent Guidelines Board Explanatory Statement, Jun 2026

Westchester County also lists Yonkers among its communities with rent-controlled apartments, a status that covers pre-1947 units whose tenants have lived there continuously since July 1, 1971.

For investors: If such a tenancy remains in an older Yonkers building, that unit's rent stays regulated until the tenant leaves. Ask the seller for each unit's status, since controlled, stabilized and market-rate apartments can sit in the same building.

Source: Westchester County Department of Planning, Rent Control (ETPA), Oct 2026

Yonkers assesses at a small fraction of market value, a 1.41% equalization rate on its 2026 roll, and the city lists its 2026-27 total city rate, city plus school, at $1,008.86 per $1,000 assessed.

For investors: A rate above $1,000 looks alarming until it meets assessments near 1.4% of market value; compare Yonkers taxes by the bill, not the rate. The June 2026 sheet lists a county-bill safety inspection fee for three or more units: $375 for three, $1,125 for four to ten.

Source: City of Yonkers, Tax Rates, Exemption Maximums, Equalization Rates and Residential Assessment Ratios, Jun 2026

Yonkers city and school taxes come in three equal installments, due July 24, 2026, October 6, 2026 and January 6, 2027 this year, with no grace period and 15% annual interest on late payments.

For investors: The October 6 and January 6 dates repeat every year, while the first installment moves with the city budget. Westchester County tax is a separate single bill each spring, due April 14 in 2026, giving a Yonkers rental four tax deadlines a year.

Source: City of Yonkers, Real Property Tax, Oct 2026

Yonkers assessment grievances open November 1 with the Board of Assessment Review; for the 2026 roll, Form RP-524 had to be filed in person by 8 p.m. on November 17, 2025.

For investors: Mailed grievances are no longer accepted, so plan an in-person City Hall filing in early November when buying in the fall. Supporting documents are due by December 15, and owners who skip the board cannot later seek county small claims review.

Source: City of Yonkers Board of Assessment Review, 2026 Procedures and Information, Oct 2026

Yonkers' room occupancy tax, now 5.875% and set to run through September 1, 2027, applies to lodging places with at least four rentable rooms; stays of 30 or more consecutive days are exempt.

For investors: A Yonkers house rented nightly with fewer than four guest rooms may fall outside this definition, while a larger rooming setup collects the tax and files quarterly returns within 20 days of each quarter's end. The tax started at 3% in 2015.

Source: City of Yonkers Code, Chapter 15 Article XVI Room Occupancy Tax, Section 15-155 (amended by L.L. No. 10-2024), Oct 2026

Before Yonkers issues a permit to renovate an existing one- to three-family dwelling, the city requires a Home Improvement Contractor's License from its Consumer Protection Bureau.

For investors: Hire contractors who already hold the Yonkers license, or the permit for a rental rehab stalls. The department's historic property files can be ordered by appointment, a useful check on the legal unit count before buying a Yonkers two- or three-family.

Source: City of Yonkers, Department of Housing and Buildings, Oct 2026