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> Owning property in NYC makes you a resident of NYC so all your income is taxable by NYS and NYC This seems extreme and the reduction in investment that comes
by throwawaysea 8y ago
> Owning property in NYC makes you a resident of NYC so all your income is taxable by NYS and NYC
This seems extreme and the reduction in investment that comes with it will have knock-on effects.
- cletus 8y agoIt is extreme but I don't think it's unwarranted or unworkable. New York should be for New Yorkers. The city dies if it just turns into a place to park money for the ultra-rich who don't live here. Having nonresident landlords mean the only thing they care about is cashing rent checks. They don't have to live with the consequences of their actions on the city. I'd be all for a system where the vast majority of landlords in NYC themselves live in NYC.