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Metropolitan DC Local Politics
Reply to "“Mansion tax” to be introduced by Grosso in DC for homes worth over $1million "
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[quote=Anonymous]If structured correctly, this would apply to the value that is over $1 million. So for example, if the rate were 0.1 percent, then someone with a $1.1 million house might pay ($1,100,000-$1,000,000)*0.001 = $100. And someone with a $2 million house would pay $1,000. (I have absolutely no idea what the rate might be; choose your own rate and adjust the calculation to get your preferred example numbers. E.g., for 1 percent, they would be $1,000 and $10,000 for those values.)[/quote]
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