-
@ L3AI
2025-03-01 06:20:32👉 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.