Wealthy residents are increasingly selling properties for $4.999 million to avoid a loathed new 'mansion tax' aimed at easing homelessness in the city.The 4 percent levy, which came into effect on April 1, is slapped on homes worth between $5 million and $10 million. Anything more expensive is subject to a 5.5 percent tax. It was expected to raise between $600 million and $1.1 billion annually to fund a range of affordable housing projects to support the city's 40,000-strong community.
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