What’s the Latest on New York’s Proposed Pied-a-Terre Tax?
The tax would apply to homes that are not a principal residence and are valued at more than $5 million By V.L. Hendrickson |
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Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question.
Q. What is the latest New York City pied-a-terre tax proposal and who could it affect?
A. A pied-à-terre tax is currently under consideration by the New York State Legislature that would affect real estate in cities with more than 1 million people.