The mansion tax is a buyer-paid transfer tax that starts at 1% for residential purchases of $1M or more, with rates increasing at $2M, $5M, $10M, and $25M thresholds. While it is technically the buyer's cost, it directly affects your pricing strategy. Pricing just above a threshold significantly increases your buyer's total cost. Strategic sellers price just below key thresholds to avoid shrinking their buyer pool.
From the seller playbook: Mansion Tax Tier Engineering
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
More questions on this topic
List for free, or go full service for 1%.
Use the playbook yourself, or let us run pricing, marketing and negotiation.