New York’s Pied-à-Terre Tax: What Every Home Owner Needs to Know

Effective July 1, 2026, and currently scheduled to expire on June 30, 2031 (unless extended or amended), New York Tax Law Article 30‑C and NYC Administrative Code Title 11, Chapter 32 (together, the “Pied‑à‑Terre Tax” or the “Surcharge”) impose an annual surcharge on certain high‑value residential properties in New York City that are not used as a primary residence.

You can find a PDF of the firm’s memorandum here.