Home Buying in Central State>Question Details

Tony, Home Buyer in Albany, NY

is the nys mansion tax applicable when a home is purchased as a second home non primary residence in nys?

Asked by Tony, Albany, NY Wed Jun 11, 2008

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4
yes - apologize for the confusion.
0 votes Thank Flag Link Thu Jun 12, 2008
Tony, the mansion tax is 1% of the ENTIRE SALES PRICE, not the amount over a million.
0 votes Thank Flag Link Thu Jun 12, 2008
Yes - it is always 1% of the total over 1M no matter how many times you purchase a non primary residence.
0 votes Thank Flag Link Thu Jun 12, 2008
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.
0 votes Thank Flag Link Wed Jun 11, 2008
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