resales

http://online.wsj.com/article_email/SB10001424052748703745704576136671394373928-lMyQjAxMTAxMDEwMTExNDEyWj.html

is the worst thing to happen to hamptons real estate. holly1, i was thinking things would hold steady, but now, no interest in owning any new york real estate.

But if you read the article that you mentioned, it only applies to people who spend more than 183 days per year in New York-that actually seems fair,

i did read the article and it's a slippery slope to taxation based solely on ownership.

Maybe, but I think that it was designed to tax people, who just winter in Florida and then claimed it as their primary residence in order to avoid NY state taxes, hence the 183-1/2 or more of the year

I'm a Florida resident and was looking for a summer home. Until this is 100% cleared up I'm no longer looking to buy in the Hamptons or anywhere else in NY for that matter. There's no way I'd buy if it would result in me having to pay NYS income taxes despite living most of the year in Florida.

New article in today's WSJ- if you spend just one day less tha 183 days in NY, you might be a target for an audit. However, if you clearly spend less than 1/2ntheb year in nys, you're fine.

Garylz, that you for NOT buying in the Hamptons. Respectfully but who needs a Hamptons home owner that uses our resources, and does not contribute to the tax pool. It's about time NYS wised up and taxed those that live in tax haven states such as Florida.

Thank you...not "that you"

GoingDown, I disagree. Your state taxes give you very little benefit, but wealthy 2nd homeowners do come and spend money in restaurants, shops, etc, and they add diversity to a very small community. As long as people are nice, I say welcome them! Garylz, why don't you rent?

HBS... Let's face it, adding a few dollars to the the local economy by dinning and shopping does not really add up to much on a per household basis. But tax revenue is significant, and if you have a home out east (where taxes are not very expensive by comparison), it benefits all of us that own out east when all home owners are paying their FAIR share. Naughty or nice as long as they pay taxes!