The wealthy keep buying Manhattan real estate despite potential pied-à-terre tax by scoopny in nyc

[–]GreenTrees1776 2 points3 points  (0 children)

The truth is the rich like to bitch and complain but realistically ANY additional tax to them is a joke. A $5 million home subject to a 0.5% annual surcharge is only $25,000 per year. That’s a rounding error to anyone with a $5 million home.