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You’re not eligible for the $250,000-per-person home sale profit exclusion, and in addition to paying capital gains tax you also face a depreciation recapture tax of 25%.
The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York City. The exemption ...
By the end of 2021, the City of New York financed more than 200,000 affordable homes since 2014, breaking the all-time record previously set by former Mayor Ed Koch. [3] The Agency also enforces the City's Housing Maintenance Code, [ 4 ] which covers heat and hot water, mold, pests, gas leaks, fire safety, and more.
A flip tax is a fee paid by a seller or buyer on a housing co-op transaction, typically in New York City.It is not a tax and is not deductible as a property tax.It is a transfer fee, payable upon the sale of an apartment to the co-op.
It takes a fair amount of money to buy a home these days. The median existing-home sale price in September was $404,500, according to the National Association of REALTORS. And if you want to avoid ...
Check Out: Real Estate Agents Explain Why You Should Never Invest in These 7 Home Features Your Credit Is Spotty Having good credit is key to getting a loan with good terms and rates.
The Real Estate Board of New York (REBNY) is a trade association for the real estate industry in New York City. Formed in 1896, it has been dubbed "the leading trade group advocating on policy changes in the real estate industry". Its current president is James Whelan. [1]
The Pending Home Sales Index, which tracks contract signings on existing homes, rose 2.2% from October to 79, its highest reading since February 2023, according to the National Association of ...