Its part of the same law. Regardless, the appraisal changes are global, right? That is, it would apply to a $200M 17th home and a $750k residence alike, right?
Its part of the same law. Regardless, the appraisal changes are global, right? That is, it would apply to a $200M 17th home and a $750k residence alike, right?
No, there is no global change that I'm aware of.
Look at the article. It changes appraisals to be comparable sales. Thats how property taxes work in general for NYC. Do you see anything that says this change is scoped to these 2nd homes over 1M? I cant find that specified anywhere - it only mentions the general method.
Yes it is proposed for only the new second home tax. It does not currently exist at all.