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Statements

Subject Item
dbr:Flip_tax
rdf:type
dbo:School
rdfs:label
Flip tax
rdfs:comment
A flip tax is a fee paid by a seller or buyer on a housing co-op transaction, typically in New York City. It is not a tax and is not deductible as a property tax. It is a transfer fee, payable upon the sale of an apartment to the co-op. Flip taxes are considered a method to help raise money for a co-op's overhead expenses without raising the maintenance fees or assessing flat charge to all residences. Charging the fee to those who are leaving the building seems to be the most politically feasible.
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dbc:Real_estate_terminology dbc:Residential_real_estate dbc:Housing_cooperatives_in_the_United_States
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1104466820
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dbc:Real_estate_terminology dbc:Residential_real_estate dbr:New_York_City dbr:New_Jersey dbc:Housing_cooperatives_in_the_United_States dbr:New_York_State_Legislature dbr:Property_tax dbr:Co-op
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A flip tax is a fee paid by a seller or buyer on a housing co-op transaction, typically in New York City. It is not a tax and is not deductible as a property tax. It is a transfer fee, payable upon the sale of an apartment to the co-op. Flip taxes are considered a method to help raise money for a co-op's overhead expenses without raising the maintenance fees or assessing flat charge to all residences. Charging the fee to those who are leaving the building seems to be the most politically feasible.
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dbr:Fee
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wikipedia-en:Flip_tax