New York Governor Proposing Tax on Second Homes Worth $5 Million or More

into meaningful change is another question.

What Happens Next?

As of now, the proposal is still moving through the legislative process.

Key questions remain:

• What will the exact tax rates be?
• Will they scale with property value?
• How will “non-primary residence” be defined and enforced?
• Will lawmakers approve it in its current form?

There is also the possibility continue reading …