What is mansion tax?

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Can you give me a fair idea on what is mansion tax?

Samantha · Posted: Tue Nov 15, 2005 1:30 am Post subject: RE:

Hi Mariah,

Welcome to MortgageFit Forums.

It is a type of tax charged by some state or local government at the time of transfer of property title from one owner to another. Prticularly for the properties who have high market value. This is an unavoidable tax.

God Bless You.

Thanks,
Samantha

Guest 0.10 Dollars($)

Thanks for your valued and prompt reply. Actually i am in between of a real estate transaction and i really wanted to know about this. thanks once again.

Mariah

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