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re: Mamdani property tax on second homes approved by NY statehouse.
Posted on 5/28/26 at 10:31 am to loogaroo
Posted on 5/28/26 at 10:31 am to loogaroo
multi multi millionaires and billionaires pay people much smarter than Mamdami to find every single tax break, loophole, etc there is. This isn't going to impact any of those people its just virtue signaling by Mamdami that his gullible base will lap up. Most of these people on paper own nothing all the properties and assets are in LLC's, Trusts, etc.
0
Posted on 5/28/26 at 10:33 am to Mo Jeaux
quote:
If you’re renting the property, then the property is not subject to this tax, regardless of whether it’s owned in your name individually or through an LLC
Help me out here
I assume wealthy people are smart so I assume they will all have LLC for their second property and rent it to themselves and, according to you would not be subject to the tax
If so they are not going to raise any money?
Is that your understanding?
Posted on 5/28/26 at 10:33 am to Mo Jeaux
quote:
If you rent the apartment to tenants who use it as their full-time residence, the apartment will not be subject to the tax.
So, charge the housekeeper rent?
Posted on 5/28/26 at 10:34 am to Rip Torner
quote:
Well, look who is trying to defend it?!
I know that you’re retarded, but can you point to where I’ve defended this tax? Accurately describing it is not defending it. I know that’s a difficult concept for you to grasp though.
Posted on 5/28/26 at 10:35 am to dafif
quote:
I assume wealthy people are smart so I assume they will all have LLC for their second property and rent it to themselves and, according to you would not be subject to the tax
If so they are not going to raise any money?
Is that your understanding?
No, that’s not how it works.
Posted on 5/28/26 at 10:35 am to theballguy
That will send the semi socialists down here.
That sucks.
That sucks.
Posted on 5/28/26 at 10:35 am to jrodLSUke
quote:
So, charge the housekeeper rent?
If you let her live there as her primary residence, sure.
Posted on 5/28/26 at 10:40 am to Mo Jeaux
I know I know you aren’t “defending” it and you pulled out the “actually” again. Your transformation into SFP is almost complete, congrats!!
Posted on 5/28/26 at 10:42 am to Rip Torner
quote:
I know I know you aren’t “defending”
So like the retard that you are, you just decided to say that I was regardless? Seems stupid.
Posted on 5/28/26 at 10:46 am to Mo Jeaux
Sarcasm is far too complicated for you
Posted on 5/28/26 at 10:47 am to LemmyLives
quote:
don't own that condo, my LLC does.
Could be wrong but that comes with significant tax increase as well
Posted on 5/28/26 at 10:48 am to jrodLSUke
quote:
So, charge the housekeeper rent?
Yea, seems like an easy work around. My son rents it from me for $1 per month.
Posted on 5/28/26 at 10:51 am to loogaroo
This idiot is going to recreate the NYC 1970's economic crisis all over again. The property owners are going lose leverage and liquidity which means lending will slow down. Banks will tighten and demand more for loans and development will slow down. This short term gain in revenue will frick NYC long term.
Posted on 5/28/26 at 10:52 am to Bjorn Cyborg
quote:
My son rents it from me for $1 per month.
You don’t have to change your children rent. If they occupy the property as their full-time residence, that property is not subject to the tax.
Posted on 5/28/26 at 11:14 am to Bjorn Cyborg
They are going to need an army of brown shirts to verify compliance.
Posted on 5/28/26 at 11:32 am to Mo Jeaux
What if I own the property through a Wyoming LLC and the pay rent to the LLC.
If I owned one of these second homes I’d investigate going this route,
If I owned one of these second homes I’d investigate going this route,
Posted on 5/28/26 at 11:53 am to Mo Jeaux
quote:
If you rent the apartment to tenants who use it as their full-time residence, the apartment will not be subject to the tax.
So the work-around is to rent it from your LLC to yourself (or vice-versa).
Posted on 5/28/26 at 11:55 am to Bard
quote:
So the work-around is to rent it from your LLC to yourself (or vice-versa).
No.
Posted on 5/28/26 at 11:55 am to loogaroo
new york city real estate is just a giant money laundering operation for the elite of the world. tax the shite out of them.
Posted on 5/28/26 at 12:00 pm to Smeg
quote:
I must be psychic. This is what I said in the thread just the other day, about him taking properties from landlords and giving them to 'stewarts'.
You can thank that communist Rudy Giuliani for that one.
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