<i>isn't the point of the article that they are not taxed at the rate of a normal condo vis-a-vis their sales price?</i> That isn't the point I'm making. Ultra-luxe condos are taxed the same way as normal condos are.…
Author here (thanks!), and yes, you're right, the alternative to ultra-luxe construction is more frightening, and we know that because of San Francisco. That's worth keeping in mind.
<i>isn't the point of the article that they are not taxed at the rate of a normal condo vis-a-vis their sales price?</i> That isn't the point I'm making. Ultra-luxe condos are taxed the same way as normal condos are.…
Author here (thanks!), and yes, you're right, the alternative to ultra-luxe construction is more frightening, and we know that because of San Francisco. That's worth keeping in mind.