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NYC announces new 'pied-à-terre tax' on second homes Diana Ionescu Sun, 04/19/2026 - 06:00 Primary Image Primary Image Caption...
New York wants to tax the rich. In a surprising shift, Gov. Kathy Hochul is behind a new proposal to tax the ultra wealthy who own multiple homes in the state. The pied-à-terre...
A historic mansion on Lake George. State Sen. Pat Fahy wants to allow other local governments to opt into the pied-à -terre tax. [ more › ]
The so-called pied-à-terre tax is expected to take effect July 1 this year and would affect roughly 10,000 single family homes, coops and condominiums citywide.
Gov. Kathy Hochul wants to tax second homes in New York City that are worth $5 million or more. Here’s how the proposal might work.
The devil's in the details when it comes to a proposed pied-a-terre tax that could apply to President Trump's triplex at Trump Tower. It depends, in part, on whether the Trump...
A new pied-à-terre surcharge aims to raise $500 million a year from the city's wealthiest property owners
New York City's proposed “pied-à-terre” tax surcharge on second homes valued at over $5 million would impose higher costs for residents, reduce investment, and dim economic prospec...
The second-home plan is expected to be part of ongoing state budget negotiations and would levy a yearly surcharge on pied-à-terres.
The senator wants to include an opt-in version of the governor’s proposal to tax non-primary residences valued at $5 million or more outside NYC.
Residential luxury towers on "Billionaires Row," a stretch of 57th Street crowded with supertall luxury towers. Efforts to impose a tax on luxury second homes once faced fierce...
As state leaders determine how much owners of high-priced second homes in New York City may have to pay, they are also wrestling with opaque L.L.C.-ownership issues.
On April 15, 2026, New York Governor Kathy Hochul announced a proposal for a new annual surcharge on luxury second homes in New York City valued at $5 million or more. The tax is d...
Governor Kathy Hochul and state lawmakers settled on a pied-à-terre levy aimed at high earners who don't call the city home.
Gov. Kathy Hochul holds a news conference during a tour of the new Sol Apartments building on Tuesday, April 14, 2026. The proposal targets luxury pied-Ã -terre properties, whi...
Hochul has been negotiating the pied-à-terre tax with legislators in Albany, hoping to raise $500 million annually.
Kevin OLeary has blasted New York City's proposed pied-à-terre tax as "really stupid," arguing that owners of luxury second homes bankroll construction work, keep paying ongoing pr...
For months, New York Gov_ Kathy Hochul has resisted calls to increase taxes on the wealthy, beating back progressives who have hounded her from Manhattan to San Juan bellowing chan...
Gov. Kathy Hochul delivers remarks at NYS Affordable Housing Conference. The governor laid out the details of her proposed tax on NYC second homes, a month after she backed it....
People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement - an initiati...
People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement - an initiati...
People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement - an initiati...
For a small number of New Yorkers who own luxury second homes in the city, the prospect of seeing their property tax rates go up is still alive.
State Sen. Pat Fahy feels it should be expanded to the rest of the state to address non-city issues.
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