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NYC’s Luxury Tax Sparks Confusion | New York City News
New York City’s new luxury home tax is sparking chaos and confusion as thousands of homeowners—some of whom have lived in their properties for decades—receive surprise bills for hundreds of thousands of dollars. Targeting homes valued over $5 million that aren’t primary residences, the tax aims to raise $500 million to plug the city’s budget gap. But the rollout has backfired: elderly residents, families, and even those who never owned a second home are being wrongly targeted, fueling anger and accusations of unfairness. The city says it’s working to fix the mess with a dedicated website and…
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