Knowledge Library

Saving Money on Transactions in the Hamptons

Considering buying a house in the Hamptons, North Fork or Shelter Island this summer? While the large transfer tax in these towns catches many buyers of homes and land by surprise every year, some are able to take advantage of certain exemptions to avoid the...

Saving on the Mansion Tax

Did you know that in some cases, part of the NYS mansion tax is not due? The savings can be significant for certain transactions. In New York State, the mansion tax adds a significant burden for buyers purchasing residential real estate priced over $1,000,000. The tax...

Late RPIE Forms Can Lead to Fines for Purchasers

Commercial property owners in New York City are required to file an annual form called the RPIE, or Real Property Income and Expense Statement. This is true if you own an income-producing property that has an actual assessed value of more than $40,000. If you don’t...