Mansion or not, you can't escape the so-called mansion tax

… painful extra costs but nothing makes this as clear as the socalled mansion tax which kicks in when you purchase a … because the fee is based on the sales prices not the type of property and it starts at 1 percent of the purchase price … a buyer can apply part of the price to purchase the owners furniture or art to keep a unit below $1 million but …

By Jennifer White Karp |April 14, 2025 - 10:00AM
Is my co-op maintenance tax deductible? How does this work?

… … Yes if you own in a coop building a portion but not all of your maintenance will be tax deductible That means on your tax return you can take a deduction for the share …  He prepares financial statements for hundreds of NYC coops  Real estate taxes probably run in the 4055 percent …

By Brick Underground |February 7, 2025 - 12:30PM