All articles tagged with #second home
A proposed pied-à-terre tax on NYC second homes valued over $5 million could raise about $500 million annually for priorities like childcare, transit, and safety, but has drawn sharp opposition from ultrawealthy investors and business leaders who warn it could drive wealth out and hurt New York’s economy; the plan has not yet been enacted.
Documents reveal that Fed governor Lisa Cook referred to her condo as a second home, highlighting her personal property details.
Emma Heming Willis discusses her decision to move her husband Bruce Willis, diagnosed with frontotemporal dementia, to a second home for his care, addressing societal judgments and emphasizing the importance of doing what is right for loved ones. She shares her journey of caregiving, raising awareness about FTD, and the challenges of managing dementia at home, advocating for better support and resources for families.
Rhode Island has introduced a new 'Taylor Swift Tax' on luxury second homes valued over $1 million that are unoccupied more than half the year, significantly increasing property taxes for owners like Taylor Swift, whose estate's bill could rise to approximately $337,000 annually. The tax aims to fund local services and address housing issues, but critics argue it unfairly targets wealthy homeowners.
When considering splitting a second home with family or friends, it is important to seek legal advice and consult with a lawyer to ensure all parties are protected and to avoid potential conflicts or disputes.