New York City is raising the second home tax known as the ini Alaca Terre tax. The proposed state legislation will be a tax of over $ 5 million for second house.

After the sale of a $ 238 million apartment sold in Manhattan at a record price, New York City lawmakers announced that they supported the implementation of the Alaca Terre tax on the high numbers of houses.

During the budget talks of the state capital, it was announced that the Alaca Terre tax should be taken from second houses worth more than 5 million dollars. Mayor Bill de Blasio says “I believe that millionaires and billionaires are not being taxed at a high enough level,” Mr. de Blasio said on Monday. He added that the pied-à-terre plan was consistent with his other tax proposals, which include a so-called “millionaire’s tax” on individuals with an income over $500,000 to raise funds to improve the city’s decrepit subway system.

The tax will only apply to property owners whose second property is over $ 5 million.

The President of the Assembly, Mr. Johnson, supported the tax. He told “There are few better examples of the burgeoning inequality in our City than $238 million dollar homes that will most likely sit empty.”

Source: mansionglobal

Sevdenur Demir / [email protected]