Frustrated real estate lawyers are pleading with New York City officials for more details on how a new tax on luxury second homes is going to work ahead of the Aug. 30 deadline when owners will find out how much they have to pay.
Several dozen real estate brokers and tax attorneys weighed in at a remote Department of Finance hearing Thursday, commenting on a bare-bones regulatory framework the city issued last month after the state enacted the new tax as part of its annual budget in late May. The city’s regulations raised more questions than they answered, commenters said. …