Tracking the taxes that whack New York real estate

Roughly a year ago, the real estate industry successfully lobbied to thwart what its leaders said would be a devastating new tax. The pied-à-terre tax would have slapped an annual excise of up to 4 percent on the value of second homes worth more than $5 million. Gov. Andrew Cuomo and the legislature — with the industry’s blessing — ultimately passed one-time transfer taxes instead. But the PAT tax could make a comeback this legislative

source https://therealdeal.com/2020/03/25/tracking-the-taxes-that-whack-new-york-real-estate/