De Blasio Mansion Tax May Keep Prices Below $1.75 Million, Audit Says

New York City mayor-elect Bill de Blasio and a group of newly-elected mayors from across the country speak to the media outside of the West Wing of the White House in Washington, D.C., U.S., on Friday, Dec. 13, 2013.

Photographer: Pete Marovich/Bloomberg

New York Mayor Bill de Blasio’s proposed “mansion tax” increase might induce sellers to offer apartments at $1.75 million or less, the city’s Independent Budget Office reported.

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