What owners and would-be buyers should know about the increased SALT deduction cap

… The Trump administrations One Big Beautiful Bill Act temporarily … for State and Local Tax SALT  which includes income and property taxes to $40000 from $10000 for taxpayers who … see the new SALT limit having much of an impact on the NYC real estate market but it may help some individuals The …

By Jennifer White Karp |July 21, 2025 - 4:30PM
Mansion or not, you can't escape the so-called mansion tax

… the socalled mansion tax which kicks in when you purchase a property for $1 million or moreeven if the place you are … its fair to say $1 million no longer buys you a mansion in NYCfor that amount buyers are more likely to end up with a … with trying to avoid the mansion tax The NYC Department of Finance can ask for supporting documentation that subjects …

By Jennifer White Karp |April 14, 2025 - 10:00AM
What is a mortgage recording tax? Are there ways to reduce it?

… Buying a coop condo or house in New York City means you can expect to pay … of the reasons closing costs for coops are much lower than condos  … A CEMA or mortgage assignment reduces your payment …

By Brick Underground |February 18, 2025 - 12:30PM