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What is a good policy for "flip" tax, especially when you want to incoporate grandfathering in a coop? Most owners are original (bldg 2004). We had about 5 sales since.
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We have had a flip tax in place for the past 18 years and it has paid for virtually all of our capital improvements over the years so I am a great believer. Since every share must be treated equally, ours is based on dollars per share which I think is the fairest way to implement it.
The only sales that I would grandfather are those that are already in the pipeline when the the flip tax is proposed; however you could consider making the effective date far enough out that anyone wanting to sell just to avoid it could do so.
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Board Talk members who registered prior to March 9th, 2016 will need to reset their password.