Finance
New York City's 'mansion tax' applies to residential purchases at or above:
A$500,000
B$750,000
C$1,000,000✓ Correct
D$1,500,000
Explanation
The NYC mansion tax applies to residential property purchases of $1,000,000 or more. The base rate is 1% for properties between $1M and $2M, with progressive rates up to 3.9% for properties $25M and above.
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