012 - New mansion and congestion tax?

NYC Apartments Zone

In this episode, get ready because we go over the new mansion tax that is getting a lot of buzz. Find out if you are being affected by it and how you can avoid the additional tax in the coming months. Also we talk about a new congestion tax that is not official yet, but law makers are contemplating whether it should take affect soon to lower the traffic in Manhattan. The crazy part, they want to charge $10 per car, per day to have a car in the tax "zone," which is downtown Manhattan from 60th street and down.

Below you will find the Mansion tax rates:

Purchase Price - Tax Rate:

$999,999 - 0.00%

$1,000,000 to $1,999,999 - 1.00%

$2,000,000 to $2,999,999 - 1.25%

$3,000,000 to $4,999,999 - 1.50%

$5,000,000 to $9,999,999 - 2.25%

$10,000,000 to $14,999,999 - 3.25%

$15,000,000 to $19,999,999 - 3.50%

$20,000,000 to $24,999,999 - 3.75%

$25,000,000 or more - 3.90%

Also if you have any questions, or have a suggestion of a topic we should talk about - feel free to reach out to us at [e-mail].

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