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The proposed tax would apply to second homes valued above $5 million, with higher rates for properties exceeding $15 million and $25 million.
Last month, New York’s governor announced that the State’s FY 2027 budget will include the enactment of an annual surcharge on second homes in New York City that are valued at $5 m...
As predicted in our previous alert, a number of states recently moved to enact or propose wealth taxes or income taxes aimed at individuals with high annual incomes, over $1 millio...
The proposed tax would be levied at 1% of the purchase price and would be paid by the buyer.
NYC will create new tax for $1M+ cash home purchases, report says Christine McLaren Fri, 05/15/2026 - 07:00 Primary Image Stat...
The tax would apply to one- to three-family homes, condominiums and co-ops worth $5 million or more.
Surcharge on luxury units is a gamble that the ultrawealthy won’t leave for low-tax states.
For a small number of New Yorkers who own luxury second homes in the city, the prospect of seeing their property tax rates go up is still alive.
In our third installment recapping states’ efforts to impose new taxes on high net worth individuals, we provide updates on Washington’s Millionaires Tax, New York State’s efforts...
A new pied-à-terre surcharge aims to raise $500 million a year from the city's wealthiest property owners
The second-home plan is expected to be part of ongoing state budget negotiations and would levy a yearly surcharge on pied-à-terres.
A proposed 1% levy on all-cash deals mirrors the state's existing mortgage-recording tax and could reshape how wealthy buyers transact
Mayor Zohran Mamdani is proposing a tax on luxury second homes to help close New York City’s budget gap and not everyone is onboard.
If Los Angeles heavyweight Miguel Santana has his way, he’d rob support for a statewide initiative to scuttle the city’s so-called mansion tax by drawing backers for a superior fix...
People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement - an initiati...
People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement - an initiati...
People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement - an initiati...
The law imposes a 9.9% tax on annual income above $1 million, with implementation expected in 2028 pending legal challenges.
Inspectors tracking down owners who claim to be tax residents abroad to dodge paying.
How Trump’s One Big Beautiful Bill Act led to a “spike” in jet sales.
Gov. Kathy Hochul holds a news conference during a tour of the new Sol Apartments building on Tuesday, April 14, 2026. The proposal targets luxury pied-Ã -terre properties, whi...
Excise taxes are levied on goods manufactured or produced locally for domestic sales or consumption, imported things, and services performed within the Philippines. These taxes, im...
The classic car tax is just one of many measures contained in the Finance Bill 2026, which proposes amendments across multiple tax segments.
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