The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
This tax directed is specifically at New York City because it is designated for cities in the state with populations of more than 1 million. The market value of these properties will be based on a "comparable sale-based valuation method." And it is a marginal rate tax - only the amount above each threshold is taxed.
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