Sag Harbor Assemblyman proposes real estate transfer tax to help first

Sag Harbor Assemblyman proposes real estate transfer tax to help first-time homebuyers

State Assemblyman Fred W. Thiele Jr., who represents the South Fork and Shelte上海夜网论坛

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r Island, introduced legislation that would fund loans to low-income first-time homebuyers through an additional half-percentage tax on luxury property transfers. Residents or workers in East Hampton, Southampton, Shelter Island, Ri上海千花网龙凤论坛

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verhead, and Southold who make less than $132,960 would be eligible for the loans. South Fork and Shelter Island homes valued at $1 million or less, and North Fork爱上海同城

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houses valued at $750,000 or less would be 上海千花网交友

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exempt from the additional tax. Thiele told the East Hampton Star the tax would raise an estimated $15 million to $20 million per year, 上海龙凤论坛sh1f

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mostly from home sales in Southampton and East Hampton. [EHS]

Tags: Hamptons
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