New York Enacts New Pied-à-Terre Tax

In their latest New York Law Journal article, “Pied-à-Terre Tax Enacted on NYC Residences,” Ezra Dyckman and Charles Nelson outline key issues property owners should watch, including potential double taxation, complications for trusts and LLCs, and the unique burden placed on cooperative corporations.

The law introduces steep rates for high‑value condos, co‑ops, and single‑family homes—and raises significant questions about valuation, primary residence tests, and ownership structures. With the tax set to sunset in 2031, NYC property owners should begin planning now.

Read the full analysis.