X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Anthony LoPinto

New York and other high income tax states are scampering to find new sources of revenue on the heels of the federal tax reform act that eliminated tax deductions for state and local income taxes. The politicians recognize that they cannot pile on more income tax levies, and at the same time, they are incapable of reigning-in spending or reducing expenses. So last week New York politicians announced that they are proposing to institute a Pied-à-terre tax on co-ops and condominiums with market values of $25 million or more, arguing that they are owned by the super-rich who can afford it.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.