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NYC Targets Second Homes with New Tax | New York City News
New York City’s new property tax surcharge targets second-home owners, sending letters to 17,000 potential taxpayers—though many claim they live in the city year-round. The city aims to collect $500 million annually by taxing luxury condos and co-ops over $1M and homes over $5M, only applying to those whose primary residence is outside NYC. Bills will arrive in November, with payments due January, and a March deadline for appeals. The mayor and finance department are working to verify residency and added 13 new staff to handle the rollout, especially for co-op owners. A recent property tax…
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