Explore the latest developments concerning Mamdani’s pied-à-terre tax.
Mamdani’s pied-à-terre tax was designed to hit the wealthy, but it’s sending most New Yorkers to their estate lawyers
New York City's pied-à-terre tax was designed to extract money from second-home owners wealthy enough not to live in the city full-time. A side effect no one planned for: It's pushing middle-class and working homeowners, people who already live in their houses, into estate-planning conversations they've never had before, at hourly rates they've never had to pay, for advice the wealthy have had access to for generations.
The rush of publicity accompanying the mayor's office highlighting a list of over 680,000 New York properties that could theoretically be subject to a new tax has inadvertently advertised how public most property data is. And it's advertised the benefits of seeking some totally legal privacy, or risk inadvertent doxxing.
NYC property owners express anger and confusion over rollout of Mamdani's 'pied-à-terre tax'
Many New York City property owners are angry and confused after they received a notice from the city stating they may owe Mayor Mamdani's 'pied-à-terre tax.'
Real estate attorney Benjamin Williams said many property owners believe they have been wrongly targeted as the city works to identify luxury second homes.
"Well, what people are really saying is, 'This is not fair. I shouldn't have to pay this,'" Williams said.
Williams said the city is placing the burden on homeowners to demonstrate that their properties qualify as primary residences.
"You're guilty until proven innocent. They're going to assume it's not a primary residence unless you can prove otherwise," he said.
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Mayor Mamdani Notifies Property Owners of New Pied-à-Terre Tax
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NEW YORK – Today, Mayor Zohran Kwame Mamdani and Department of Finance (DOF) Commissioner Richard Lee began notifying property owners that they may be subject to the new “pied-à-terre” tax via mail. This marks the first step in implementing the tax – proposed in partnership with Governor Kathy Hochul and the State of New York – which applies to one- to three-family homes, condominiums, and co-ops when owners have a separate primary residence.
For more detailed information, explore updates concerning Mamdani’s pied-à-terre tax.
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