NYC Pied-à-Terre Tax Calculator
The NY State Legislature passed the NYC pied-à-terre tax in May 2026 — co-announced by Mayor Mamdani and Governor Hochul, administered by the NYC Department of Finance, effective July 1, 2026, with a 5-year sunset. The surcharge runs 0.8%–1.30% on 1-3 family homes above $5M, and 4.00%–6.50% in tax years 2026-2027 and 2027-2028 for condos and co-ops at $1M+ in DOF-assessed value (about $5M+ in sale price). From tax year 2028-2029 onward, DOF moves all property types to a sales-based valuation. This calculator runs the math for a specific apartment across the full program.
Updated May 28, 2026. Final DOF regulations, bracket-mechanics confirmation, and the 2028-2029 revaluation methodology are still pending publication. Trophy buildings (220 CPS, 432 Park, One57, etc.) carry materially lower DOF ratios than the standard 20% estimate — use the DOF override input to model with your actual DOF Notice of Property Value.
- The exact tax-year 2028-2029 revaluation methodology — DOF must publish a sales-based approach for condos and co-ops. We use sale price as the proxy; refine when final DOF guidance lands.
- LLC and trust ownership look-through rules. The reported framework applies at the property level; whether beneficial owners count toward the primary-residence test is still in regulation.
- Interactions with federal, NY State, or NYC income tax.
Buying or selling a Manhattan second home?
The pied-à-terre surcharge is one moving piece in a broader policy environment that’s actively reshaping the non-resident Manhattan market. A 30-minute consultation gets you the read on what it means for the specific apartment you’re considering — and on the policy trajectory.
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