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Property tax fight brews in NY over absentee owners

2014-10-20 12:17:29| Real Estate - Topix.net

A proposed NYC levy would require part-time New Yorkers to pay a 0.5 per cent surcharge on dwellings valued at more than $5 million. Photo / Thinkstock The real-estate industry is mobilising to kill a proposed levy on non-resident owners of apartments valued at more than $5 million, seeking to ensure the world's biggest city doesn't follow London, Hong Kong and Singapore in extracting extra cash from trophy properties.

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