The NYC Pied-à-Terre Tax: How New Rules Are Changing the Economics of Luxury Second Homes
A luxury second home in New York City has always carried costs beyond its purchase price. Owners have had to account for property taxes, insurance, maintenance, financing, building charges and the opportunity cost of tying up capital. Now, for certain high-value properties that are not primary residences, the NYC pied-à-terre tax adds another recurring expense […]
