Pied-a-Tere Tax – Whose Being Billed in Bay Ridge?
NY’ers who have secondary homes in NY were sent letters this week. The Pied-a-Tere Tax will be a tax levy on people whose second homes are worth more than $500,000. Around 31,000 people will pay it and it is expevted to generate an estimated $500 million annually.
Some people received the letter, even though the property they own is their primary residence. They have to go to the website and apply for the exemption by August 21, 2026 (short turn around – especially for the Summer):
https://www.nyc.gov/site/finance/property/non-primary-residence-surcharge.page
Councilman David Carr shared this:
Councilman Carr is quoted in this article: https://tinyurl.com/CarrOnNewTax
Strangely, NYC Council Representative, Kayla Santosuosso wrote that you don’t have to take action now if you received a letter:
You can join the Council Representative’s conversation on this topic here:
https://tinyurl.com/Santosuosso
Rollout Timeline:
Some co-ops and condos will be affected by this tax. One shared this with leaseholders:
Can you imagine living in NYC for all of these years and receiving a letter which tells you to prove residency or pay $50,000 in tax?!
The PAT Tax (Pied-a-Tere) Tax is going to backfire on NY. Someone did not think this through well.
The news shared that a list will be beneficial to squatters because they will be able to look up who is not always at their residence in NYC. Here’s the new website for people to search for their property: https://piedaterretax.nyc/?src=database#checker
Mayor Mamdami said on a television news segment that there is no new list, this information has always been available online and NYS requires the information to be published. https://tinyurl.com/tax-change
Hugs,
marlene
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