Wong Issues Statement Clarifying Pied-à-Terre Tax Eligibility
You can see the mayor’s discussion of the outreach about this tax here. You can also learn about it at the announcement initially released.
Maspeth, NY — Council Member Phil Wong today issued the following statement after receiving clarification from the New York City Department of Finance regarding the State’s pied-à-terre tax:
“I received confirmation from the Department of Finance that only owners of non-primary residences valued at $5 million or more, or condos and co-ops valued at $1 million or more, may be subject to the pied-à-terre tax.
The list reported in the media is a state-mandated list of residential properties drawn from information already published in the annual final property tax roll. DOF is reviewing that list to determine which properties may be subject to the additional tax.
If you do not receive a letter, you have nothing to worry about. The vast majority of property owners in our district would not qualify for this tax.”
Banner Image: Councilmember Wong at press conference. Image Credit – CM Wong
