is the nys mansion tax applicable when a home is purchased as a second home non primary residence in nys?
Answers (4)
yes - apologize for the confusion.
Tony, the mansion tax is 1% of the ENTIRE SALES PRICE, not the amount over a million.
Yes - it is always 1% of the total over 1M no matter how many times you purchase a non primary residence.
Web Reference: http://www.buyorsellahomenow.com
FIRST ANSWER
The mansion tax is applicable when buying any home. First, second, third, investment, you name it. It is 1% of the total price on a home over 1M.
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Answered Sat May 24 2008, 20:50 by Barbara Carter and… in Central State
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