Category: Pied a Terre Tax
NY Pied-À-Terre Tax Proposed via Senate Bill S44A
A conversation revived. The economic shutdown triggered by the COVID-19 pandemic has resulted in an astonishing $14 billion budget deficit in New York, with projections of up to $30 billion by 2022, according to New York Governor Andrew Cuomo. In efforts to minimize the cash flow crunch and increase capital…
Lawmakers Support ‘Pied-à-Terre’ Tax on Multimillion-Dollar Second Homes | Article from The New York Times
A plan to tax the rich on multimillion-dollar second homes in New York City has rapidly moved closer to reality, as legislative leaders in Albany and Gov. Andrew M. Cuomo have all signed off on the idea as a funding stream for the city’s beleaguered subway system.Mr. Cuomo said on…
N.Y. Had a Plan for a ‘Pied-à-Terre’ Tax on Expensive Homes. The Real Estate Industry Stopped It. | Article from The New York Times
ALBANY — When state leaders rallied this month behind a proposal to tax luxury second homes in New York City, it seemed to encapsulate the goals of the Capitol’s new Democratic leadership: The bill would simultaneously help pay for public transit, vex real estate developers and target the überwealthy.The sudden…
