state_legiscan_drain · NY
Enacts the "mansion tax adjustment act"; increases the sales price threshold for real property conveyances that will trigger additional sales tax.
June 3, 2026
Summary
If enacted, this bill would increase the sales price threshold for the New York mansion tax, reducing the number of high-value property conveyances subject to the additional tax. It affects homebuyers, sellers, real estate agents, and mortgage lenders who must account for the tax in closing costs.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.nysenate.gov/legislation/bills/2025/S10652
Common questions
- What does "Enacts the "mansion tax adjustment act"; increases the sales price threshold for real property conveyances that will trigger additional sales tax." cover?
- If enacted, this bill would increase the sales price threshold for the New York mansion tax, reducing the number of high-value property conveyances…
- When was it published?
- It was published on June 3, 2026.