Home Buying in New York>Question Details

Myrna Coffino, Real Estate Pro in New York, NY

How will the 2013 property tax laws affect sellers and buyers?

Asked by Myrna Coffino, New York, NY Sun Dec 9, 2012

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Are you asking about NYC real property taxes for FY 2013 or the 3.8% federal income tax on capital gains above the exempt ($250K single 500K married) primary residence exemption for taxpayer's with incomes above $200K single $250K married?

In either case, I agree with William. Most people buy and sell due to their own life circumstances rather than tax considerations.
0 votes Thank Flag Link Tue Dec 11, 2012
I agree with you and William, life circumstance is a different buyer market than
an investment or a long term leverage vis a vis a long term luxury rental buyer market would be.
Flag Tue Dec 11, 2012
Mitchell Hall, Real Estate Pro in New York, NY
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What property tax laws are you referring to? If you're referring to the possibility that the mortgage interest deduction might be limited or discontinued this has happened yet and I doubt that it will. Even if it does it's actually a minimal deduction for most people. Having sold over a thousand homes in my career to date, I've never once heard a single buyer mention this as a reason for buying a home.
0 votes Thank Flag Link Tue Dec 11, 2012
The 2013 property tax laws will not affect sellers and buyers at all.
They will make their decisions in accordance with other factors.
0 votes Thank Flag Link Mon Dec 10, 2012
The 2013 property tax laws will not affect sellers and buyers
at all. They will make their decisions based on other factors.
0 votes Thank Flag Link Mon Dec 10, 2012
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