Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market
Posted By Elizabeth Harrington On March 28, 2019
NY skyline
A plan to tax wealthy apartment owners in New York City is being called a "disaster" for an already struggling real estate market.
The "pied-Ã -terre" tax, part of Democratic state lawmakers' budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.
State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.
URL to article:
https://freebeacon.com/issues/proposed-ny-real-estate-tax-called-disaster-for-already-lagging-market/
