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Tuesday, February 9, 2010
jump to the original story in -The New York Observer:» Mortgage recording taxes for Co-ops?
It is on the table. In the governor's cross hairs are loans for co-ops, which have long been free of taxation, while taxes on equivalent condos and houses run between 2.05 percent and 2.175 percent of any mortgage. The budget seeks to allow the city to slap this mortgage recording tax onto co-ops, swinging the tax lasso around a cash source that has been eyed-but untouched-by city officials since at least the days of Ed Koch.
Mortgage recording taxes for Co-ops?
