New York City sends 11,000 more pied-à-terre tax letters as it apologizes to the 1,200 wrongly targeted because it didn’t
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New York City’s Department of Finance is sending a second wave of pied-à-terre tax letters to roughly 10,800 property owners, even as it mails a different kind of letter to other owners from the first round, telling them, in effect, never mind.
Key facts
Roughly 17,000 owners received a notice this summer warning they might owe the surcharge, which applies only to non-primary residences amounts, with a rate of 0.8%–1.3% on homes over $5 million
So by their last count, the reporter thinks they sent out less than 20,000, ‘you may be subject to’ letters, the reporter thinks it was about 17,000 or 18,000
The reason has nothing to do with a change in the law and everything to do with timing: New York State sent the city’s DOF preliminary 2025 income-tax records on Aug
The third category, about 4,400 households, consists of properties where DOF doesn’t have 2025 tax returns that would indicate whether they are primary residences
Summary
Roughly 17,000 owners received a notice this summer warning they might owe the surcharge, which applies only to non-primary residences amounts, with a rate of 0.8%–1.3% on homes over $5 million and 4%-6.5% on condos and co-ops over $1 million. The reason has nothing to do with a change in the law and everything to do with timing: New York State sent the city’s DOF preliminary 2025 income-tax records on Aug. 12, several months earlier than the agency would normally begin receiving them.