New York lawmakers are planning a new tax on New York City homes purchased in cash for at least $1 million as part of state budget negotiations. The proposal could raise transaction costs for higher-end residential buyers and may modestly weigh on luxury housing demand. The article does not specify the tax rate or implementation timing.
New York lawmakers are planning a new tax on New York City homes purchased in cash for at least $1 million as part of state budget negotiations. The proposal could raise transaction costs for higher-end residential buyers and may modestly weigh on luxury housing demand. The article does not specify the tax rate or implementation timing.
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