Lavish Second Home Owners Could Be Hit By NYC Pied-A-Terre Tax

By Brendan Krisel

A new tax that targets people who buy lavish second homes in the city is being proposed by two councilmembers.

Mark Levine, who represents parts of the Upper West Side, Harlem and Washington Heights and Margaret Chin who represents parts of Chinatown, the Lower East Side and Lower Manhattan, will introduce a resolution in support of the so-called pied-a-terre tax on Thursday, the legislators said.

State Senator Brad Hoylman and State Assemblymember Deborah Glick have been fighting for a pied-a-terre tax in the state legislature since 2014. Levine and Chin's resolution wouldn't put the tax into law, but would instead signal the city's willingness to support such a tax if passed by the state.

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