Posted by Leonard Steinberg on March 20th, 2014

Mansion Tax is imposed on properties sold in New York State costing $1 million or more: has anyone seen a mansion anywhere in Manhattan, Queens, Brooklyn or the Bronx for $1 million? In other words, this MANSION TAX is simply a disguise for another tax that hurts the middle class more than anyone, yet all the politicians keep ‘fighting for the middle class’.

Yes, buying a $ 1 million property is VERY middle class in New York, yet our government doesn’t seem to care. And why? The state’s mansion tax produced $259 million in the 2012-2013 fiscal year — a 22% jump from the previous year and a record high.

This is further proof that $ 1m+ apartment sales fuel tax coffers. Further proof that the government is out of touch with reality…..although they are benefitting with this absurd law that hurts the middle classes they claim they are out to help. Hmmmmm…..