taxes

… can help you avoid paying the entire mortgage recording tax on a home loan It involves assigning a mortgage from one lender to another so your tax is only calculated on the unpaid principal The savings … off one mortgage and take out another you have to pay the tax on the face amount of each mortgage When refinancing …

… but nothing makes this as clear as the socalled mansion tax which kicks in when you purchase a property for $1 … and it starts at 1 percent of the purchase price This state tax which went into effect in 1989 applies to singlefamily … closing cost that is shouldered by many buyers The mansion tax aka New York State Tax 1402a  can increase your closing …

… City means you can expect to pay several hefty fees and taxes as part of your closing costs For example you may have to pay a mansion tax dont be fooled by the name Youre required to pay this if … a place at or above $1 million Then theres the transfer tax title insurance a lien search for a coop andif you are …

… in New York City youll want to consider ways to reduce your tax exposure  Capital gains tax is levied on the profit you make selling your place and … varies depending on your income bracket Some wont pay any tax at all If the apartment you are selling is your primary …