Looking to the future -- oh, say, about three years from now -- buyers seeking to purchase a condo built after 2010 in New York may face a taxing situation. Literally.
A bill, now in state legislature, has been proposed by Sen. Betty Little (R-Glens Falls) to put the breaks on the condo tax discount, which is about 40 percent less than a comparable house. The proposed bill would allow local governments to tax new condominiums built after 2010 just like any other home.
This is a hot topic, especially in Suffolk County where about 9 percent of the housing stock are condos. Find out who supports the bill and who is against it in Elizabeth Moore’s Newsday story.