If It Moves, Tax It. If It Stops Moving, Tax It

[Weatherman2020]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

 

[Indeependent]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

No one retires in NY.

 

[Weatherman2020]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

No one retires in NY.

I left California just for that reason. Now they no longer obtain my tax dollars. The exodus of money makers from Blue States is going to create a huge budget implosion soon.

 

[Claudette]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

No one retires in NY.

And if they should retire in NY I hope they have loads of money because they will sure need it.

Anyone with a working brain cell is leaving that overtaxed State.

Amazing how the citizens keep electing Dems to run the State so they can tax the shit out of them. NY and California. Oh my.

 

[Indeependent]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

No one retires in NY.

And if they should retire in NY I hope they have loads of money because they will sure need it.

Anyone with a working brain cell is leaving that overtaxed State.

Living in a State where your taxes could skyrocket in any given year is not an option.

 

[william the wie]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

No one retires in NY.

I left California just for that reason. Now they no longer obtain my tax dollars. The exodus of money makers from Blue States is going to create a huge budget implosion soon.

The question for me is whether it will be one or two crashes. The big one will be @ 4/15/2020 but another one is definitely possible.

 

[Indeependent]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

No one retires in NY.

I left California just for that reason. Now they no longer obtain my tax dollars. The exodus of money makers from Blue States is going to create a huge budget implosion soon.

The question for me is whether it will be one or two crashes. The big one will be @ 4/15/2020 but another one is definitely possible.

3 days ago Bloomberg said we will not experience a crash.

 

[william the wie]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

No one retires in NY.

I left California just for that reason. Now they no longer obtain my tax dollars. The exodus of money makers from Blue States is going to create a huge budget implosion soon.

The question for me is whether it will be one or two crashes. The big one will be @ 4/15/2020 but another one is definitely possible.

3 days ago Bloomberg said we will not experience a crash.

Look at REITs in your IRA account. Cuomo set off a real estate downturn that has an outside chance at being a full on crash just by proposing this tax. CBL has very limited NY exposure and if not for my call writing hedges I would be in very deep doo-doo as it is I am not happy.

 

[TroglocratsRdumb]

The concept that people will just move away never ever crosses the minds of the Left.

Proposed NY Real Estate Tax Called ‘Disaster’ for Already Lagging Market.

The “pied-à-terre” tax, part of Democratic state lawmakers’ budget proposals, would target out of state residents and some New Yorkers who buy property valued at over $5 million. Mayor Bill de Blasio and Gov. Andrew Cuomo support the tax.

State senator Brad Hoylman, a fan of socialist Alexandria Ocasio-Cortez and co-sponsor of legislation that legalized abortion in New York up until the moment of birth, originally introduced the tax in 2014.

The proposal comes at a time of lagging real estate prices. Last year, the real estate market had its worst year since the financial crisis, as sales fell by 14 percent. In 2018 the median price for an apartment in Manhattan “fell below $1 million for the first time in three years,” CNBC reported.

The pied-à-terre tax would further cause a “dramatic drop” on real estate values in New York, according to an analysis conducted by the Wall Street Journal.

The tax ranges between 0.5 percent to 4 percent on homes valued at $5 million and above. Proponents of the tax say it would raise up to $650 million in revenue per year, though the Journal‘s analysis found it would raise just $471 million.

“The tax is a disaster,” one apartment owner told the Journal. “If you actually put the tax in place, you would massively reduce the value of real estate.”

Real estate brokers told Bloomberg a pied-à-terre tax is “class warfare” on the rich.

Here's the deal.
In Left Wing economics the Leaders are the Slave Masters and the Citizens are the slaves.

 

[william the wie]

The bigger question is what will IL do? At the breaking point for the commodities exchanges NYC markets will move to a location near those exchanges. TN is the odds on favorite successor state for the capital markets. At that moving point the Northeast goes broke and starts fracking for oil.