{"id":341613,"date":"2026-09-09T09:24:09","date_gmt":"2026-09-09T09:24:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/341613\/"},"modified":"2026-09-09T09:24:09","modified_gmt":"2026-09-09T09:24:09","slug":"nyc-pied-a-terre-tax-reignites-fight-to-overhaul-property-taxes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/341613\/","title":{"rendered":"NYC Pied-a-Terre Tax Reignites Fight to Overhaul Property Taxes"},"content":{"rendered":"<p>New York City\u2019s tax on luxury second homes is giving city lawmakers new leverage to pursue an overhaul of its property tax system that elected officials acknowledge is outdated, but are loath to take up.<\/p>\n<p>The city must come up with a new valuation method for condos and co-ops that would <a data-terminal-id=\"TFPUD2T96OSG\" href=\"https:\/\/news.bloombergtax.com\/daily-tax-report\/nys-budget-adds-second-home-tax-nixes-levy-on-cash-purchases\" rel=\"nofollow noopener\" target=\"_blank\">take effect in 2028<\/a> or risk fencing off thousands of apartments from the new surcharge projected to generate $500 million annually.<\/p>\n<p>The pied-\u00e0-terre tax is being levied on nonresidents with one- to three-family homes assessed at $5 million or more by the city Department of Finance, and on condos &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"New York City\u2019s tax on luxury second homes is giving city lawmakers new leverage to pursue an overhaul&hellip;\n","protected":false},"author":2,"featured_media":341614,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[8964,8966,42109,5593,9,56,63,65,64,21719,8968,5591,118387],"class_list":["post-341613","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-condominiums","tag-cooperatives","tag-federal-tax","tag-municipal-tax","tag-new-york","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-race-discrimination","tag-real-property-tax","tag-settlements","tag-valuation-of-real-property"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/341613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=341613"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/341613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/341614"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=341613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=341613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=341613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}