Real estate insiders reveal the real cost of Mamdani’s pied-à-terre tax — and what it’s really doing to NYC

"The numbers are so beyond what people are interested in spending every year that many people are rethinking," one Compass agent told The Post.

Homeowners in New York City received alerts about the implementation of a new pied-à-terre tax. This tax requires individuals to demonstrate that their properties serve as primary residences to sidestep the added charge. It specifically affects high-value homes not utilized as the owner's primary dwelling. In response,

The pied-a-terre tax sparked confusion after 900,000 properties appeared on a supplemental roll, but only 17,000 homeowners received surcharge letters.

New York City Mayor Zohran Mamdani introduced the pied-à-terre tax in April. Bloomberg/Bloomberg via Getty Images Mayor Zohran Mamdani extended a deadline for homeowners seeking exemption from his pied-à-terre tax. Eligible homeowners now have until September 18 to apply for an exemption. The tax applies to people who

How Much Mamdani's Second-House Tax Will Really Cost Billionaires (Short Answer: Very Little)  Forbes

Scott Galloway: I Got Doxed by Mamdani’s Pied-à-Terre List  New York Magazine

Just about every back-to-school item that families will load into their literal or virtual carts this summer has gone up in price at a time when American families already feel crushed by rising costs.