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NYC Pied-à-Terre Tax Backlash | Real Estate News
New York City’s new pied-à-terre tax has real estate agents in a frenzy—over 900,000 addresses are on the chopping block, and agents say they’re being treated like criminals until proven innocent. With some clients facing $60K+ tax bills just for not living full-time in their city condos, the rollout’s chaos is hitting deals hard. The system’s flawed valuations—like flagging a $3M condo sold for less because its assessed value was higher—are sparking lawsuits and calls for pause. The Real Estate Board of New York demands transparency and accountability, while agents plead for an apology from…
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