Amending Section 1402 of the NYS Tax Law to raise the minimum threshold for imposition of the “Mansion Tax” from $1,000,000 to $2,000,000 in NYC and increasing the tax due on transfers exceeding $2,000,000.

Resolution calling upon the New York State Legislature to introduce and pass, and the Governor to sign, legislation amending Section 1402 of the New York State Tax Law to raise the minimum threshold for imposition of the “Mansion Tax” from $1,000,000 to $2,000,000 in New York City and increasing the tax due on transfers exceeding $2,000,000.