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How a Mansion Tax Could Affect Wealthy Neighborhoods

mansionForeign real estate investment in the United States was at an all-time high in 2014. As European and Asian cities implement mansion taxes, more overseas buyers will be looking to purchase homes in places like Florida. Florida has no wealth tax and for US residents, is a great place to create your homestead in order to avoid taxes such as estate/inheritance, and state income taxes.

Places like New York, London, Singapore, Hong Kong, San Francisco, and Paris will always have those who want to live there and won’t mind paying the tax for that privilege. But for those just looking to invest or simply have a holiday or vacation home, these taxes will make them consider other cities or countries.

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