Timothy P. Noonan, Lauren E. Austin & Noah S. Chase (Hodgson Russ LLP), Second Home, New Tax: Navigating NYC’s Pied-à-Terre Surcharge, 121 Tax Notes State 79 (July 13, 2026)
It’s the first tax of its kind in New York state, and it’s finally here after more than a decade of failed proposals.
Here, we walk through the key mechanics: how the tax is calculated, how properties are valued, what’s in and out of scope, the primary residence exemption, and when payments are due.
Paul Williams (Law360): Attys Seek Clarity, Carveouts In NYC 2nd-Home Tax Rules
Practitioners implored the New York City Department of Finance on Thursday to clarify certain elements of the agency’s proposed rules for a tax on high-value second homes, including addressing whether purchasers may have leeway during renovations and how changes of ownership during the year will be evaluated.
Emily Hollingsworth (Tax Analysts): NYC Brokers, Attorneys Ask for Clarity on Pied-à-Terre Tax Rules
More clarity on how the New York City pied-à-terre tax will be implemented was the primary concern voiced at the public hearing on the proposed rule for the tax.
Ten people, composed mostly of realtors and tax professionals, spoke at the New York City Department of Finance’s July 9 virtual public hearing on the proposed rule. The department’s rule page has gotten around 30 comments as of press time.
Previous Coverage:
