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Mansion tax collection reaches record $259 mn

Started by Nix_NY
about 12 years ago
Posts: 1
Member since: Aug 2010
Discussion about
Interesting article - especially: "And while $1 million may get you a mansion in Binghamton or Erie, it can barely buy a one-bedroom in Manhattan. (In Manhattan, it might be time to rename it the "lavish studio apartment" tax.) Not surprisingly, the mansion tax is universally hated by the real estate industry. "It's arbitrary," said Duncan MacKenzie, CEO of the New York State Association of Realtors. "And it artificially depresses the market.""
Response by NYCMatt
about 12 years ago
Posts: 7523
Member since: May 2009

Sadly, don't expect to see it go away any time soon.

New York City never saw a tax it didn't like and refused to give up.

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Response by alanhart
about 12 years ago
Posts: 12397
Member since: Feb 2007

Soak 'em.

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