New Yorkers who own real estate — even a single townhouse — might be headed over a cliff. I’m talking about the estate tax. If a New Yorker with a net worth of up to $7,717,500 dies in 2026, the first $7.35 million is not taxed by the state. But if an estate is worth more than 5 percent above that exclusion threshold, the entire estate is taxed. Tax professionals call that a cliff. New York’s estate tax rate starts at 3.06 percent and rises quickly, topping out at 16 percent for estates worth more than $17.25 million. People worth […]

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