The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
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. And it is a property tax which means it will be paid annually, not just upon sale like the Mansion tax.
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