State "Mansion Taxes" on Very Expensive Homes

This report recommends that states adopt a tax on high-value properties, or what is sometimes called "Mansion Taxes," in order to fund schools, healthcare, roads, and other public services. It provides examples of states and localities that have implemented progressive real estate transfer taxes, and progressive high-value property tax surcharges. It also recommends that these taxes consider how many mansions are in a state, where they are concentrated, and how quickly they sell.