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  2. What are real estate transfer taxes? - AOL

    www.aol.com/finance/real-estate-transfer-taxes...

    A real estate transfer tax, sometimes called a deed transfer tax or documentary stamp tax, is a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property.

  3. S7000A New York City property tax - Wikipedia

    en.wikipedia.org/wiki/S7000A_New_York_City...

    New York City Tax Growth Chart Based on New York City Independent Budget Office Summary. S.7000-A is the name given to the current dominant property tax law in effect in New York State affecting New York City. Surrounding areas such as Nassau County have similar laws. The bill was enacted in 1981 in response to the Hellerstein decision ...

  4. Real estate transfer tax - Wikipedia

    en.wikipedia.org/wiki/Real_estate_transfer_tax

    Real estate transfer taxes have become controversial in some U.S. jurisdictions seeking to increase transfer taxes on higher end property sales to help combat issues like homelessness. 2022's Chicago's Bring Chicago Home initiative, seeks to increase transfer taxes on $1 million transactions by 253% or t o 2.65% or $26,500 per million dollar of ...

  5. Mortgage Interest Deduction: Limits and How It Works - AOL

    www.aol.com/finance/mortgage-interest-deduction...

    For many years, PMI premiums were tax-deductible, but this deduction expired in 2021. However, you may still be able to deduct your PMI, if it applies to a rental property.

  6. Transfer tax - Wikipedia

    en.wikipedia.org/wiki/Transfer_tax

    Moore, 178 U.S. 41 (1900), confirmed that the estate tax was a tax on the transfer of property as a result of a death and not a tax on the property itself. The taxpayer argued that the estate tax was a direct tax and that, since it had not been apportioned among the states according to population, it was unconstitutional.

  7. Flip tax - Wikipedia

    en.wikipedia.org/wiki/Flip_tax

    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.

  8. Home mortgage interest deduction - Wikipedia

    en.wikipedia.org/wiki/Home_mortgage_interest...

    Canadian federal income tax does not allow a deduction from taxable income for interest on loans secured by the taxpayer's personal residence, but landlords who own rental residential or commercial property may deduct mortgage interest as a reasonable business expense; the difference between the two being that the deduction is only allowed when ...

  9. New York State Department of Taxation and Finance - Wikipedia

    en.wikipedia.org/wiki/New_York_State_Department...

    The tax department was formally created on January 1, 1927, but the first signs of the department date to 1859. The original intent was to find a way (a mathematical formula) to distribute tax revenue to individual counties in New York State.

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