New York Lawmakers Mull New Tax on City Homes Over $1Mln Bought With Cash - Reports

NAMPA / Sputnik

2026-05-14

WASHINGTON, May 14 (RIA Novosti) - New York lawmakers are considering introducing a new tax on cash purchases of homes in New York City valued at $1 million or more, Bloomberg reported on Thursday, citing people familiar with the state budget discussions. The proposed tax, which will charge buyers 1% of the property's purchase price, is expected to generate $160 million in the city budget, the report said. Lawmakers are also reportedly weighing a......

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