Pied-à-terre Tax on NYC Second Homes
Sector: Commercial • Location: New York, United States
Source: The Real Deal
An eleventh-hour proposal by Gov. Kathy Hochul to impose an extra annual tax on second homes in New York City. The tax would apply to roughly 13,000 properties assessed at $5 million or more that are not the owner's primary residence or rented out full-time. Higher-valued properties would face higher tax rates, and the tax could be indexed to inflation. The tax aims to generate $500 million annual
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Participants
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Company | Obfuscated Data |
Status
Original status | proposed |
Taiyo status | Obfuscated Data |
Taiyo last update | 00-00-0000 |
Available timestamps | 00-00-0000 |
Available timestamp type | Obfuscated Data |
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Description
Description | An eleventh-hour proposal by Gov. Kathy Hochul to impose an extra annual tax on second homes in New York City. The tax would apply to roughly 13,000 properties assessed at $5 million or more that are not the owner's primary residence or rented out full-time. Higher-valued properties would face higher tax rates, and the tax could be indexed to inflation. The tax aims to generate $500 million annually to help reduce the city's budget gap. |
Original sub-sector | Obfuscated |
Original Currency | USD |
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Source
Source reliability | High |
Data quality score | 100% |
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URL | obfuscated_data,obfuscateddata.com |
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