Hochul proposes pied-à-terre tax on NYC second homes worth over $5M

Governor Kathy Hochul on Wednesday proposed a yearly tax on non-primary residences in New York City. After resisting calls to tax high-income earners led by progressive leaders like Mayor Zohran Mamdani, the governor is now embracing a surcharge on secondary homes in the five boroughs valued at $5 million and above. Known as pieds-à-terre, these [...] The post Hochul proposes pied-à-terre tax on NYC second homes worth over $5M first appeared on 6sqft.