Fewer than 9,000 homeowners to pay NYC pied-à-terre tax as City Hall reviews exemption requests

The Hochul-Mamdani pied-à-terre tax is completely falling apart

This thing was a kludge from the start.

POLITICS: The Hochul-Mamdani pied-à-terre tax is completely falling apart

Bills for the Hochul-Mamdani pied-à-terre tax haven’t even gone out, yet the Rube Goldberg scheme is already collapsing. It’s now certain that fewer than 9,000 homeowners will have to pay it, though Gov. Kathy Hochul and Mayor Zohran Mamdani counted on 13,000 to pony up, raising $500 million for the city’s budget. Yet City Hall has already approved appeals for nearly 7,000 of the 17,000 homeowners it told might be liable, with another 3,800 more…

Fewer than 9,000 homeowners to pay NYC pied-à-terre tax as City Hall reviews exemption requests

NEW YORK — Fewer than 9,000 New York City homeowners will be subject to the pied-à-terre surcharge on pricey second homes as the city continues to sift through applications for exemption from the tax, City Hall numbers show. The number…

Your Family Lives There. So Why Is NYC Imposing a Pied-à-Terre Tax?

Across New York City, high-value real estate is commonly held through trusts and limited liability companies (LLCs), which serve important purposes, from estate planning to privacy and liability protection.  Yet, many families are discovering that the ownership arrangements their advisers recommended for these purposes now trigger the city’s pied-à-terre tax — even when the “owner” […]