New York City’s ultra-wealthy buyers dodged a bullet last week when lawmakers abandoned a proposed pied-à-terre tax on luxury pads. But some brokers now fear everyday buyers will bear the brunt of a progressive mansion tax that took its place. The new mansion tax will start at 1.25 percent on sales above $2 million but under $3 million; the tax tops out at 3.9 percent for sales above $25 million, according to the state’s new […]
source https://therealdeal.com/2019/04/01/new-york-is-projecting-365m-in-new-real-estate-taxes-but-who-will-bear-the-burden/
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