NYC mayor extends deadline for pied-à-terre tax exemption applications
The deadline to apply for an exemption from New York City's new pied-à-terre surcharge has been moved to Sept. 18, giving owners additional time to prove primary residence status.
New York City officials announced that homeowners who received a notice from the Department of Finance about the pied-à-terre surcharge now have until Sept. 18 to submit exemption applications, extending the previous deadline of Aug. 21. The extension applies to owners of properties valued over $5 million that are not their primary residence, as defined by the state-passed tax enacted on July 1.
The Department of Finance said the change is intended to give affected owners more time to demonstrate that a property is their main home, which would make it exempt from the annual surcharge. A city webpage clarified that only the roughly 17,000 owners who were mailed a notice are required to act, despite an earlier release of a supplemental market-value roll listing over 900,000 properties.
The tax, approved by the state legislature in May and signed by Governor Kathy Hochul, will apply to secondary residences valued above $5 million during the 2026-27 and 2027-28 property-tax years. Individual condo and co-op units valued at $1 million or more will also be subject to the levy.