Given 2013's ridiculous sales, it comes at no surprise that New York State's so-called "mansion tax" raked in $259 million in the 2012-2013 fiscal year. That's 22 percent more than the prior year. Homes that sell for $1 million and up are slapped with a 1 percent tax, a bar that, considering all too many asking prices right now, seems rather low. That's why one state legislator, who represents the Upper East Side (of course), wants to increase the threshold to $1.75 million. [NYP; previously]
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