New York City’s Pied-à-Terre Tax

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New York City’s new Non-Primary Residence Property Surcharge—commonly known as the pied-à-terre tax—can impose substantial annual property-tax liability on certain high-value one- to three-family homes, condominium units, and cooperative apartments. Whether the surcharge applies depends not only on how the property is used, but also on its Department of Finance market value, ownership structure, occupants, and the available evidence of primary residence. Consequently, even a home occupied full-time may face exposure when it is held in a trust or business entity, occupied by a family member or tenant, undergoing construction, or affected by a recent ownership change.

This program will provide attorneys with a practical guide to the governing statutes, DOF rules, and administrative procedures. It will address covered properties, surcharge calculation and valuation, primary-residence claims and exclusions, DOF verification filings, administrative and judicial review, billing and penalty exposure, and current litigation—including O’Brien and any subsequent challenges to the City’s implementation of the surcharge.

Learning Objectives

Upon completion of the program, participants will be able to:

• Determine whether a property may be subject to the surcharge and identify the principal valuation and calculation issues.
• Analyze primary-residence claims involving individual owners, family members, tenants, trusts, and business entities.
• Identify the forms and supporting evidence needed for the DOF verification process.
• Evaluate available DOF, Tax Commission, and judicial remedies and the practical effect of current litigation.

To register for the upcoming live webinar, please check back later.