Originally Posted by findtom
Mansion tax? Never heard of that... I suppose "mansion" is defined by price not by living space.
That's right Tom...the "Mansion" tax is a little nicety you get in Real Estate in New York. You pay 1% of the entire purchase price if the price is over 1 million. The tax started in the 60's and has never been changed. So yes, my 1050 square foot "mansion" will cost me an extra $11,600 tax!!!
A MANSION...at 1050 square feet, Are you KIDDING me???