{"id":40306,"date":"2026-05-02T16:06:24","date_gmt":"2026-05-02T16:06:24","guid":{"rendered":"https:\/\/www.vosa.tv\/eng\/?p=40306"},"modified":"2026-05-02T16:06:24","modified_gmt":"2026-05-02T16:06:24","slug":"nyc-comptroller-mark-levine-releases-comprehensive-estimation-of-a-potential-pied-a-terre-tax-and-highlights-key-variables","status":"publish","type":"post","link":"https:\/\/www.vosa.tv\/eng\/archives\/40306","title":{"rendered":"NYC Comptroller Mark Levine Releases Comprehensive Estimation of a Potential Pied-\u00e0-Terre tax and highlights key variables"},"content":{"rendered":"<p><strong>NEWYORK: The Office of New York City Comptroller\u00a0Mark Levine\u00a0released The Pied-a-Terre tax and its potential revenue<em>,<\/em>\u00a0a detailed analysis\u00a0and estimation\u00a0of\u00a0potential revenues that\u00a0could\u00a0be\u00a0collected\u00a0from high-value second homes.\u00a0<\/strong><\/p>\n<p>The report found that as much as $510 million could\u00a0plausibly be\u00a0raised\u00a0annually, but\u00a0a number\u00a0of\u00a0substantial variables in the design, implementation,\u00a0and enforcement of the program\u00a0could result in the\u00a0estimate falling\u00a0to between $340 million and $380 million.<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p>\u201cAs we continue to work toward budget agreements at the City and State levels, it\u2019s imperative that government leaders, advocates and New Yorkers know\u00a0how major new revenue proposals might reliably impact our budget,\u201d said\u00a0<span data-contrast=\"auto\">New York City Comptroller Mark Levine.<\/span><span data-contrast=\"auto\">\u00a0<\/span><\/p>\n<p>\u201cThis report provides a clear-eyed, impartial analysis of the proposed pied-a-terre tax \u2013 what it could raise, where the uncertainties are, and what assumptions must be clarified.\u00a0I\u00a0am committed to working with my partners across the City and State to ensure our budget meets the needs of\u00a0New Yorkers.\u201d<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The\u00a0Office examined the\u00a0proposed\u00a0tax\u00a0on residential properties valued at $5 million or more that are not used as primary residences\u00a0\u2014\u00a0commonly referred to as \u201cpied-\u00e0-terre\u201d properties\u00a0\u2014\u00a0and evaluated\u00a0its potential role in addressing the City\u2019s structural budget gap, including as part of the FY 2027\u00a0spending plan.\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">While a pied-\u00e0-terre tax could plausibly raise significant revenue,\u00a0the\u00a0Office\u00a0found\u00a0the estimates are limited not only by the tax rates, but by\u00a0key\u00a0unresolved questions about how the\u00a0City\u2019s\u00a0Department of Finance\u00a0will address key factors, including:\u00a0primary-residence ownership and rental exemptions,\u00a0co-op and condo valuation,\u00a0treatment of two- and three-family homes,\u00a0and potential behavioral changes.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEWYORK: The Office of New York City Comptroller\u00a0Mark Levine\u00a0released The Pied-a-Terre tax and its potential revenue,\u00a0a detailed analysis\u00a0and estimation\u00a0of\u00a0potential revenues that\u00a0could\u00a0be\u00a0collected\u00a0from high-value second homes.\u00a0 The report found that as much as $510 million could\u00a0plausibly be\u00a0raised\u00a0annually, but\u00a0a number\u00a0of\u00a0substantial variables in the design, implementation,\u00a0and enforcement of the program\u00a0could result in the\u00a0estimate falling\u00a0to between $340 million and $380 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":40153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1469,31,1378],"tags":[],"class_list":["post-40306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","category-news","category-us"],"_links":{"self":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/40306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/comments?post=40306"}],"version-history":[{"count":1,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/40306\/revisions"}],"predecessor-version":[{"id":40307,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/40306\/revisions\/40307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media\/40153"}],"wp:attachment":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media?parent=40306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/categories?post=40306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/tags?post=40306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}