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What is the NYC Pied-à-Terre Tax?
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The policy also connects to New York City’s housing shortage.
It has also published a tax roll containing information on around 960,000 property owners who could potentially be subject to the surcharge.
Some homeowners have also objected to the publication of property information in the city’s tax roll.
The pied-à-terre tax is not a complete solution to New York’s housing shortage, but supporters believe it could contribute to a broader strategy.
Even a revenue figure significantly below $500 million, however, could still represent meaningful money for New York City.