How Much Is the Mansion Tax on a $25m NYC Townhouse?

Nick at Hauseit (https://www.hauseit.com) reveals the size of the Mansion Tax bill for the buyer of a $25m NYC townhouse. Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. How it works: https://www.hauseit.com/how-it-works/
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The fortunate home buyer of a $25 million townhouse will pay 3.9% in the form of the NYC Mansion Tax. The Mansion Tax was originally enacted in 1989 and it was a fixed 1% rate on any purchase of $1 million or more. It was never indexed for inflation and still hasn't been to this day.

However, in 2020 they did overhaul the Mansion Tax to create a multitude of different tax brackets with the highest rate being the 3.9% that we mentioned which is applicable to purchases of $25 million or more.

NYC Mansion Tax Calculator: https://www.hauseit.com/nyc-mansion-tax-calculator/
Reduce Your Mansion Tax Bill: https://www.hauseit.com/buyer-closing-credit/
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Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. Learn how it works: https://www.hauseit.com/how-it-works/

Hauseit Group LLC, Licensed Real Estate Broker
Tel: +1 (888) 494-8258
Email: team@hauseit.com
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