[What you need to know to start the day: Get New York Today in your inbox.]
For the last five years, a bill that would create a so-called pied-à-terre tax in New York has languished in the State Legislature, where proposals for new taxes often go to die.
But after Kenneth C. Griffin, a hedge fund billionaire with an estimated net worth of billion, added to his personal real estate portfolio last month by closing on a 8 million apartment on Central Park South, things may soon be different.
The record purchase — surpassing the cost of the next most expensive home in the United States by more than 0 million — was a stark reminder that when wealthy buyers like Mr. Griffin purchase expensive apartments as second homes or investments, New York City and the state get less financial benefits. If the buyers live out of state, they are not subject to state or city income taxes, and do not pay New York sales tax while outside the state.
A pied-à-terre tax would institute a yearly tax on homes worth million or more, and would apply to homes that do not serve as the buyer’s primary residence.
Large cities around the world have been grappling with how to make wealthy absentee property owners pay for the privilege of owning secondary residences, a recent report from the Real Estate Institute of British Columbia shows. Sydney, Paris and London have all recently added or increased taxes on the purchase of secondary homes.
In Hong Kong, nonpermanent residents pay a 15 percent fee on the value of the home, and foreigners pay an additional 15 percent fee. Singapore has restrictions on the purchase of residential property by foreigners and a 15 percent tax. In Denmark, foreigners are required to obtain permission from the government to purchase secondary homes.
In Vancouver, where the greatest concentration of vacant properties is downtown, owners of empty residential properties are charged a 1 percent tax based on the assessed value.
In 2018, the number of vacant homes declined by 15 percent and about million in taxes is expected to be collected — a revenue stream earmarked for affordable housing.
“The best level to do this at is the city level, because the taxes can go right back into fixing the problem,” said the mayor of Vancouver, Kennedy Stewart, who favors increasing the tax to 3 percent.
Until recently, elected officials in New York have been less receptive to a pied-à-terre tax. The bill, first introduced in 2014 by State Senator Brad Hoylman, a Democrat who represents some of the wealthiest neighborhoods in Manhattan, has been blocked by the ruling Senate Republicans.
But Democrats seized control of the Senate in November, and legislative leaders are now considering the bill.
“It’s something we haven’t discussed in the conference yet, but we will,” said Mike Murphy, a spokesman for the Senate Democrats.
Michael Whyland, a spokesman for the Assembly speaker, Carl E. Heastie, said the legislation, sponsored in the Assembly by Deborah J. Glick, will be “closely” reviewed as part of the budget process.
Richard Azzopardi, a senior adviser to Gov. Andrew M. Cuomo, said the administration was open to it as well.
Senator Hoylman acknowledged that the nearly quarter-billion-dollar apartment was a perfect poster child for his bill, saying that stratospheric sales like this “are the gifts that keep giving.”
“A 8 million purchase puts things into perspective,” he said.
Indeed, the City Council speaker, Corey Johnson, said he planned to urge legislators in Albany to authorize the pied-à-terre tax when he testifies there during budget hearings next week. Mr. Johnson’s support suggests that if the Legislature passes such a bill, the Council would then give its approval to implement it, if necessary.
“I saw the story about the 8 million penthouse that someone might not even live in, and said now is the time to renew the call on this,” Mr. Johnson said in an interview. “I think this is doable and we should start the conversation now.”
Mr. Johnson, who is exploring a run for mayor in 2021, said that in his district, which includes the High Line, there are “apartments that are crumbling and apartments 50 feet away that are selling for millions of dollars.”
Mr. Hoylman’s legislation would create a sliding tax surcharge: For properties valued between million and million, a 0.5 percent surcharge would be added on the value over million. Fees and a higher surcharge would apply to homes that sold for more than million, topping out at a 0,000 fee and a 4 percent surcharge for homes valued at more than million.
The office of the city comptroller, Scott M. Stringer, estimated that a pied-à-terre tax would bring in a minimum of 0 million annually if enacted today. “For us, 0 million a year is a lot of money to deal with things such as our subway crisis,” Mr. Stringer said, “but it’s a rounding error for the people who own these expensive part-time apartments.”
The people most likely to be affected by the tax are the “international elite” who can afford it, he said.
There were 75,000 pieds-à-terre in New York City in 2017, up from 55,000 such units in 2014, according to the New York City Housing and Vacancy Survey. In spite of the increase, the share of pieds-à-terre that comprise vacant units unavailable for sale or rent remained at about 30 percent in both years.
Mark Levine, a city councilman who represents Upper Manhattan, will propose in a forthcoming white paper that money from a pied-à-terre tax should be dedicated to fixing the city’s public housing stock and to create affordable housing. “Even the Victorian-era robber barons who built all these mansions were living there,” Mr. Levine said.
And because the city’s property tax system is antiquated, co-ops and condos are not taxed at their true market value, but on the income generated by similar rental buildings. A property tax reform commission is currently studying how to revise the city’s tax system.
“I would argue they need to pay more than the baseline property taxes because the value of the real estate depends on the viability of New York City, the quality of the public services, and they are not effectively carrying their weight for that,” said James Parrott, director of economic and fiscal policies at the Center for New York City Affairs at the New School, and a member of the property tax reform commission.
New York City is the second largest location of Mr. Griffin’s firm, Citadel. The company has been expanding in the city, recently acquiring more space at an under-construction Midtown office tower on Park Avenue; company officials suggested that commercial real estate taxes, combined with the taxes that Mr. Griffin will pay on his apartment, amounted to a significant contribution to New York City. Zia Ahmed, a spokesman for Mr. Griffin, declined to comment.
Mr. Parrott, who wrote a 2014 paper for the Fiscal Policy Institute that was the basis of Mr. Hoylman’s legislation, estimated that Mr. Griffin would have to pay .9 million per year if there was a pied-à-terre tax.
New York State does have a so-called mansion tax, a 1 percent tax levied on homes that sell for million or more. That tax brought in .1 billion for New York City from the 2016 fiscal year to present, according to the Department of Finance.
Mayor Bill de Blasio, a Democrat who says income inequality will be the most important issue leading to the 2020 presidential election, has called for an expansion of the mansion tax, using Mr. Griffin’s apartment purchase as an example of what is “fundamentally broken in our country.”
Yet some people believe that this is not the right time for a pied-à-terre tax in New York. Kathryn Wylde, president of the Partnership for New York City, said many wealthy people had made the decision to leave the state after President Trump’s tax legislation reduced the amount of deductions that can be taken for state income and property taxes to ,000, an amount easily surpassed in higher-tax states like New York.
“To be proposing more taxes on the wealthy in this environment is playing with fire,” Ms. Wylde said. “The question is whether we think having wealthy people with a residence in New York is important considering their tax and philanthropic output.”
Mr. Parrott believes the risk of the ultra-wealthy fleeing the city is massively overstated.
“The risk is nil. For million a year that guy’s going to go to Cleveland instead?” he said of Mr. Griffin. “I don’t think so.”B:
马会财经资料全部免费【这】【还】【是】【段】【武】【峰】，【第】【一】【次】【主】【动】【拉】【她】【的】【手】，【让】【司】【马】【玉】【兰】【的】【脸】【颊】，【有】【些】【艳】【红】，【有】【些】【羞】【涩】。 【想】【抽】【回】【手】，【可】【想】【到】【这】【是】【她】【夫】【君】，【又】【忍】【耐】【住】【了】，【没】【有】【抽】，【只】【是】【身】【子】【却】【僵】【硬】【了】【几】【分】。 【段】【武】【峰】【像】【是】【没】【发】【现】【一】【样】，【拉】【着】【她】，【在】【身】【边】【坐】【了】【下】【来】。 【吃】【饭】【时】，【段】【武】【峰】【还】【亲】【自】【为】【她】【盛】【了】【一】【碗】【莲】【子】【血】【燕】【羹】，【说】，“【这】【段】【时】【间】，【你】【为】【这】【个】【家】【辛】【苦】
【有】【时】【候】，【周】【阳】【对】【自】【由】【先】【遣】【军】【的】【概】【念】【充】【满】【迷】【茫】。 “【以】【人】【类】【为】【名】。” 【自】【由】【先】【遣】【军】【承】【认】【了】【被】【遗】【忘】【者】【和】【进】【化】【者】，【都】【是】【人】【类】。 【但】【是】，【由】【军】【神】【进】【化】【而】【来】【的】【那】【道】【意】【识】【呢】？ 【它】【算】【是】【人】【类】【吗】？ 【舍】【弃】【了】【人】【类】【形】【体】【的】，【还】【是】【人】【类】【吗】？【那】【么】【奇】【形】【怪】【状】【的】【土】【著】【又】【如】【何】【界】【定】？【还】【是】【说】，【舍】【弃】【了】【细】【胞】【结】【构】【的】，【就】【不】【算】【人】【类】【了】【吗】？
“【他】【在】【赌】！！” 【当】【吉】【羽】【的】【一】【招】【横】【扫】【千】【军】【使】【用】【出】【来】，【韩】【吉】【总】【算】【明】【白】【了】【吉】【羽】【的】【用】【意】！ 【可】【到】【底】【是】【贝】【特】【霍】【尔】【德】【的】【脖】【子】【被】【吉】【羽】【横】【扫】【打】【断】，【还】【是】【吉】【羽】【在】【贝】【特】【霍】【尔】【德】【的】【巴】【掌】【下】【无】【所】【遁】【形】？ 【这】【个】【结】【局】，【没】【有】【人】【知】【道】！ 【这】【一】【刻】，【是】【胜】【利】【还】【是】【失】【败】，【牵】【动】【着】【在】【场】【所】【有】【的】【人】。 【不】【由】【得】，【就】【连】【艾】【伦】【和】【亚】【妮】【双】【方】，【都】【忍】【不】【住】【停】【下】
【艺】【神】【奖】【并】【没】【有】【将】【最】【佳】【男】【女】【演】【员】【放】【到】【最】【后】【颁】【奖】，【这】【是】【因】【为】【艺】【神】【奖】【评】【审】【委】【员】【会】【认】【为】，【导】【演】——【才】【是】【一】【部】【电】【影】【的】【核】【心】、【灵】【魂】。 “【首】【先】【颁】【发】【的】【是】【新】【锐】【导】【演】【奖】【项】。【有】【请】【颁】【奖】【人】……” 【五】【部】【提】【名】【电】【影】【轮】【番】【播】【放】。【章】【瑶】【激】【动】【地】【发】【现】，《【流】【言】》【获】【得】【了】【提】【名】。 “【你】【都】【没】【告】【诉】【我】！” “【没】【把】【握】【嘛】。”【江】【耀】【笑】【笑】，【拍】【了】【拍】【女】【朋】马会财经资料全部免费【当】【弗】【林】【德】【踏】【出】【黑】【水】【城】【的】【第】【一】【步】，【就】【意】【味】【着】【他】【已】【经】【开】【始】【了】【它】【的】【市】【场】【就】【意】【味】【着】【他】【已】【经】【开】【始】【要】【去】【观】【察】【一】【下】，【现】【在】【黑】【成】【的】【变】【化】【去】【观】【察】【一】【下】【现】【在】【和】【学】【生】【给】【大】【家】【所】【带】【来】【的】【变】【化】，【观】【察】【一】【下】【他】【这】【个】【当】【领】【主】【的】【给】【大】【家】【所】【带】【来】【的】【变】【化】【去】【观】【察】【一】【下】【他】【这】【个】【领】【主】【是】【否】【当】【了】【合】【格】，【他】【之】【前】【所】【做】【的】【一】【些】【计】【划】【是】【不】【是】【好】【的】【是】【不】【是】【合】【格】【的】【是】【不】【是】【可】【以】【促】【进】【学】
【韩】【枫】【正】【在】【参】【加】【一】【个】【设】【计】【展】，【这】【么】【巧】，【殷】【柔】【特】【意】【请】【了】【假】【来】【看】，【她】【看】【到】【了】【韩】【枫】，【冲】【着】【韩】【枫】【微】【笑】，【韩】【枫】【也】【回】【之】【微】【笑】。 “【学】【长】，【你】【也】【来】【看】【展】【啊】？”【殷】【柔】【问】。 “【对】，【我】【受】【邀】【过】【来】【的】。”【韩】【枫】【说】。 “【听】【说】【这】【个】【展】【很】【棒】，【所】【以】【我】【特】【意】【请】【假】【过】【来】【看】【看】。”【殷】【柔】【说】，【韩】【枫】【微】【笑】，【喝】【了】【一】【口】【手】【里】【的】【咖】【啡】。“【听】【说】，【你】【找】【到】【她】【了】？”
【没】【想】【到】【苏】【染】【会】【这】【么】【敏】【锐】【的】【捕】【捉】【到】【她】【的】【异】【常】【之】【处】，【徐】【洛】【渺】【有】【点】【心】【虚】，【连】【忙】【转】【移】【话】【题】：“【还】【是】【说】【说】【你】【吧】，【刚】【才】【在】【看】【什】【么】【呢】？” 【苏】【染】【笑】【了】【笑】，【又】【在】【徐】【洛】【渺】【脸】【上】【摸】【了】【一】【把】：“【我】【在】【看】【这】【期】【的】【杂】【志】【啊】，【你】【看】【看】【这】【把】【我】【拍】【的】【一】【点】【也】【不】【好】【看】，【反】【倒】【是】【亦】【色】【前】【辈】，【简】【直】365°【无】【死】【角】，【怎】【么】【人】【和】【人】【的】【差】【距】【就】【这】【么】【大】【呢】” 【徐】