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The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Miller Samuel

January: The closing of the $238,000,000 Manhattan condo sale in January (2015 contract). March: Introduction of the Fiscal Policy Institute's 2014 "pied-a-terre" tax proposal for properties valued at or above $5,000,000 in New York City, was introduced in the Senate. The tax is not really about pied-a-terres.

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UNDERSTANDING THE TRUE COST OF HOMEOWNERSHIP

Will Springer Realtor

The result: Nearly one-third of all households are cost-burdened, the highest rate since 2015. >> Equity-rich is defined as the combined estimated amount of loan balances secured by property owners that are no more than half of their estimated market value. Annual property taxes are, gulp!