Seems taxing million-dollar homes in NYC is only the beginning

T. A. Gardner

T. A. Gardner

Serial Thread Killer
NY's state government wants to slap a tax on all $1 million + cash home purchases now. Of course, this isn't going to work like they think it will. I can see purchasers of such homes slapping down say $990,000 in cash and taking out a mortgage on the rest then paying that off in full a year later avoiding the tax.


gothamist.com

Lawmakers plan tax on NYC cash home sales, as Hochul details pied-a-terre plan

The governor laid out the details of her proposed tax on NYC second homes, a month after she backed it.
gothamist.com gothamist.com

There's already specialty companies that will help New Yorkers avoid property and other taxes on their properties.

Ownwell: Lower Your Property Taxes

Save money on property taxes. With no upfront commitment, our local experts manage your appeal from start to finish. Pay just 25% of what you save. Start your appeal today.
www.ownwell.com www.ownwell.com

The Left never learns...
 
At its core, proposals like this are an attempt for politicians to look like they are addressing affordability issues without building new housing.
 
cawacko said:
At its core, proposals like this are an attempt for politicians to look like they are addressing affordability issues without building new housing.
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You got the “attempt for politicians to look like” part correct, but in the end most don’t amount to what is promised, and it isn’t just NY politicians, they all do it across the country to some degree, especially these days where honesty isn’t valued
 
archives said:
You got the “attempt for politicians to look like” part correct, but in the end most don’t amount to what is promised, and it isn’t just NY politicians, they all do it across the country to some degree, especially these days where honesty isn’t valued
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Generally speaking, I don't disagree. But I was speaking specifically about housing.

A lot of places in this country have a real affordability issue with housing. The best long term way to address it is through additional supply.

The problem is many local communities push back on new development, so politicians turn to proposals like this because it lets them look like they are addressing affordability without actually building more housing.
 
cawacko said:
Generally speaking, I don't disagree. But I was speaking specifically about housing.

A lot of places in this country have a real affordability issue with housing. The best long term way to address it is through additional supply.

The problem is many local communities push back on new development, so politicians turn to proposals like this because it lets them look like they are addressing affordability without actually building more housing.
Click to expand...
I’d say most urban areas have a problem with housing, and I guess being a homeowner, plus old enough to see so many bad ideas, I’m skeptical of most developments.
 
T. A. Gardner said:
NY's state government wants to slap a tax on all $1 million + cash home purchases now. Of course, this isn't going to work like they think it will. I can see purchasers of such homes slapping down say $990,000 in cash and taking out a mortgage on the rest then paying that off in full a year later avoiding the tax.


gothamist.com

Lawmakers plan tax on NYC cash home sales, as Hochul details pied-a-terre plan

The governor laid out the details of her proposed tax on NYC second homes, a month after she backed it.
gothamist.com gothamist.com

There's already specialty companies that will help New Yorkers avoid property and other taxes on their properties.

Ownwell: Lower Your Property Taxes

Save money on property taxes. With no upfront commitment, our local experts manage your appeal from start to finish. Pay just 25% of what you save. Start your appeal today.
www.ownwell.com www.ownwell.com

The Left never learns...
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Its amazing how simple minded demoncraps are. They think every problem they have is because "the rich" dont pay enough taxes. Its a tune theyve been singing badly for decades but they have no other tune to sing.
 
archives said:
I’d say most urban areas have a problem with housing, and I guess being a homeowner, plus old enough to see so many bad ideas, I’m skeptical of most developments.
Click to expand...
We have a growing population and a pretty severe housing shortage in many of the more desirable areas of the country. That affects all of us as it leads to a less dynamic economy.

And it's only a slight exaggeration to say we're essentially giving veto power to existing homeowners across the country on the grounds that they don't want their neighborhood to change, have more people live around them etc.
 
T. A. Gardner said:
NY's state government wants to slap a tax on all $1 million + cash home purchases now. Of course, this isn't going to work like they think it will. I can see purchasers of such homes slapping down say $990,000 in cash and taking out a mortgage on the rest then paying that off in full a year later avoiding the tax.


gothamist.com

Lawmakers plan tax on NYC cash home sales, as Hochul details pied-a-terre plan

The governor laid out the details of her proposed tax on NYC second homes, a month after she backed it.
gothamist.com gothamist.com

There's already specialty companies that will help New Yorkers avoid property and other taxes on their properties.

Ownwell: Lower Your Property Taxes

Save money on property taxes. With no upfront commitment, our local experts manage your appeal from start to finish. Pay just 25% of what you save. Start your appeal today.
www.ownwell.com www.ownwell.com

The Left never learns...
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they're emptying out California and new York for the Chinese overlords to stay in.

this is what you wanted, globalist.
 
cawacko said:
We have a growing population and a pretty severe housing shortage in many of the more desirable areas of the country. That affects all of us as it leads to a less dynamic economy.

And it's only a slight exaggeration to say we're essentially giving veto power to existing homeowners across the country on the grounds that they don't want their neighborhood to change, have more people live around them etc.
Click to expand...
yes.

all the boomers vote to keep the bubble growing.

the worst generation.

they have fucked America.
 
Yakuda said:
Its amazing how simple minded demoncraps are. They think every problem they have is because "the rich" dont pay enough taxes. Its a tune theyve been singing badly for decades but they have no other tune to sing.
Click to expand...
Kinda like republicans singing out endlessly that tax cuts are needed, even after they got tax cuts
 
cawacko said:
We have a growing population and a pretty severe housing shortage in many of the more desirable areas of the country. That affects all of us as it leads to a less dynamic economy.

And it's only a slight exaggeration to say we're essentially giving veto power to existing homeowners across the country on the grounds that they don't want their neighborhood to change, have more people live around them etc.
Click to expand...
And there in lies the quagmire
 
T. A. Gardner said:
Illegals wired about $500 billion legally or illegally gotten, out of the country during Biden's term in fraud, drug money, cartel money, from employment, etc.
Click to expand...

The 14M illegals who are still here, cost a CBO verified $65K per person per years. That's a Trillion Dollars a year, under Trump's 2nd term.


We should have already deported 3 M of the Illegals.


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