Posts from March 2021.
At the end of last year, we discussed the latest pied-à-terre tax proposal introduced in the New York Legislature, Senate Bill S44B, and how it compared with prior versions reported in this blog over the past six years. (As you may recall, New York State Senator Brad Hoylman sponsored the original proposal to impose a real property tax on nonprimary residences in 2014). This past weekend, the New York Assembly released its Tax and Revenue budget proposals for 2021-22, Assembly Bill 3009-B (the “Assembly Proposal”), which includes a new type of pied-à-terre tax, a surcharge on the owner! (The Senate declined to include such tax in its budget proposal.)