Rental Market

New York passes pied-à-terre tax for luxury NYC second homes

6sqftby Devin GannonMay 28, 2026

New York City is getting its pied-à-terre tax. State lawmakers on Wednesday approved the $268.5 billion 2027 state budget, which included a new annual surcharge on second homes in the city valued at $5 million or more. First announced last month by Gov. Kathy Hochul, the new tax will take effect Jul

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