N環球 
NYC pied-à-terre tax exemption deadline hits today as appeals court lets rollout proceed
New York City extended the deadline to seek an exemption from its pied-à-terre tax on second homes worth over $5 million to Oct. 13; an appeals court ruled Tuesday the city can keep rolling out the tax while lawsuits proceed.
Why it matters
The pied-à-terre tax on non-primary luxury homes is one of New York's most litigated local levies. Today is the last day for owners who qualify to claim an exemption — missing it could mean landing on the surcharge rolls.
Full report
New York City property owners get one more week to seek an exemption from the pied-à-terre tax, the Department of Finance said Tuesday, moving the deadline to Oct. 13. The tax targets second homes worth more than $5 million; owners can claim an exemption if the home is their primary residence.
A New York appeals court ruled Tuesday that the city may proceed with the rollout while it considers a homeowner lawsuit challenging the notification process. The decision puts on hold a Sept. 29 ruling by a Staten Island judge ordering the city to redo that process.
The city mailed 17,000 notices in July and has approved more than 5,200 exemption requests so far; the surcharge will appear on property tax bills due Jan. 1. Two separate lawsuits challenge the levy's legality itself, including one backed by former Commerce Secretary Wilbur Ross and casino magnate Steve Wynn, who argue it unlawfully targets only non-city residents.
💬 Comments
No comments yet. Be the first!