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Realtors fighting tax on rich absentee owners

Proposed measure would raise US$665m every year with surcharge on properties valued at over US$5m

Published Wed, Oct 15, 2014 · 09:50 PM

New York

A POLITICAL battle is brewing at the apex of New York's property market.

The real estate industry is mobilising to kill a proposed levy on non-resident owners of apartments valued at more than US$5 million, seeking to ensure the world's biggest city doesn't follow London, Hong Kong and Singapore in extracting extra cash from trophy properties.

The industry…

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Property

Property

Realtors fighting tax on rich absentee owners

Property

US single-family housing starts plunge in March

CDL unit sells 65 units at The Residences at W Sentosa in latest sales relaunch

Data gaps, privacy needs of the rich make anti-money laundering checks tough, say agencies

CDL unit markets unsold units at The Residences at W Sentosa at 40% less than 2010 launch price

China developers slash prices by 40% at luxury Hong Kong apartment project

URA awards Zion Road, Upper Thomson sites to sole bidders at lower-than-expected offers

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