NYC Sends 17,000 Pied-à-Terre Tax Notices as Owners Challenge Luxury Home Surcharge
Updated
Updated · WABC-TV · Jul 30
NYC Sends 17,000 Pied-à-Terre Tax Notices as Owners Challenge Luxury Home Surcharge
3 articles · Updated · WABC-TV · Jul 30
Summary
17,000 New York City property owners were told they may owe Mayor Zohran Mamdani’s pied-à-terre tax, triggering complaints that many primary residences were wrongly flagged as luxury second homes.
Aug. 24 is the deadline to seek an exemption, and homeowners say the city has shifted the burden onto them to prove residency with tax returns, utility bills, driver’s licenses and voter records.
Mamdani said the surcharge is aimed at “the richest of the rich” and defended the early notices as giving owners until next March to work with the Finance Department before the tax takes effect.
Two dozen staff are being hired to help with the process, but the Real Estate Board of New York says the administration was unprepared to administer the complex levy.
The tax, which earlier reports said applies to second homes worth more than $5 million, is expected to raise $500 million for the city budget.