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Treasury proposes multiple tax and fee changes — from mansion tax to streaming, sports and a 40¢ 988 fee
Summary
The proposed FY‑26 budget includes a package of revenue changes estimated at roughly $1.2–1.3 billion, including increases to the realty transfer (mansion) fee, expanded sales‑tax base (digital/streaming and participatory sports), a monthly 40¢ line fee for 988, higher cannabis and gaming rates, and excises on cigarettes, drones and firearms.
The Executive budget included a range of tax and fee proposals the administration says will raise roughly $1.2–$1.3 billion and help close a projected structural gap.
Treasury described the suite of measures as a mix of recurring revenue raisers and smaller one‑time or partial‑year items. Among the proposals the administration scored or described for the committee:
• An increase to the realty transfer (“mansion”) fee with higher tiers for sales above $1 million and $2 million (Treasury estimated roughly $317 million additional revenue, with roughly…
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