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Everything You Need to Know if Purchasing After July 1st in NYC

Written by: Robert Varvara, The Steven Cohen Team at The Corcoran Group As New York City continues to experience a desperate need for funds to improve vital infrastructure, legislators look to homeowners in the city’s high-end luxury market. Amid confusion and substantial opposition surrounding the ‘pied-a-terre tax’, answers finally became clear when April rolled around. The so-called “millionaire’s tax” would be an annual charge on any apartment or house in NYC valued at over $5M that serves as a secondary…