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@ Yahoo! Finance - by layer3.news
2025-03-01 06:20:32
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✍️ The mansion tax is a one-time fee paid at closing on high-value real estate transactions, typically above $1 million, and can range from 1% to over 5% depending on the jurisdiction.
👉 The mansion tax is a one-time fee paid at closing on high-value real estate transactions, typically above $1 million.
👉 The tax can range from 1% to over 5% depending on the jurisdiction.
👉 The buyer is usually responsible for paying the mansion tax at closing.
👉 The tax is intended to generate revenue for housing affordability programs.
👉 The mansion tax applies to residential properties, not commercial properties.
#NewYork #California #NewJersey #Connecticut #LosAngeles #SanFrancisco #realestate
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