NYC Pied-à-Terre Tax Calculator
New York’s pied-à-terre surcharge is now in effect — a New York State tax (Tax Law Article 30-C) administered by the NYC Department of Finance, with a 5-year sunset. Below the threshold there is no surcharge; at or above it, the bracket rate applies to the property’s full value.
Rates run 0.80%–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 above $1M in DOF market value (DOF’s income-approach value runs well below sale price). From tax year 2028-2029, DOF moves all property types to a comparable-sales valuation and condos and co-ops adopt the $5M threshold. This calculator runs the math for a specific apartment across the full program.
Last updated July 22, 2026, checked against the enacted New York State statute (Tax Law Article 30-C) and the Department of Finance’s adopted rules. The statute prices the initial phase as though DOF market value were 20% of sales-based value; trophy buildings run far below that, which is why your actual DOF Notice of Property Value is required rather than estimated. Exemption applications are due October 6, 2026 — confirm at nyc.gov, as DOF has moved that date twice.
+ How the threshold works
The tenant test has two parts and both are required: the lease must be arm’s-length, to an individual, for at least a year — and the tenant must actually use this unit as their own primary residence. A corporate lease to someone who lives elsewhere does not exempt the property, however long the term.
Exemption applications are due October 6, 2026. DOF has moved this date twice — confirm at nyc.gov before you rely on it.
+ How to find your DOF market value
Look it up at the NYC Department of Finance property portal: search by BBL (borough, block, lot) and use the “Estimated Market Value” total — NOT the “assessed value,” which is about 45% of market value. From 2028-2029, DOF revalues condos and co-ops on a sales-comparable basis, so this value drives the initial phase only.
+ What this calculator does not model
- The tax-year 2028-2029 figure is an illustration, not a projection. From 2028-2029 the base is a comparable-sales market value that DOF must determine, with the income-approach restriction switched off (Tax Law §1351(l)). DOF has not published that methodology — its adopted rule says the phase two methodology is “not necessary to discuss at this stage of the rulemaking process.” We substitute the sale price to show you the shape of the exposure. The sale price is not the statutory base, and what you paid in an earlier year is not evidence of what DOF will determine for a fiscal year beginning July 1, 2028.
- Co-op units after 2028-2029. Through 2027-2028 a co-op unit’s value is imputed from the building’s DOF value times your share fraction (§1351(h)). That rule is written for the initial phase only. From 2028-2029 the statute requires a comparable-sales value for each individual apartment — a per-unit figure DOF does not publish today and has not described.
- Trust and LLC ownership does not defeat the surcharge: §1351(d) looks through a trust to its sole beneficiaries and through an entity to majority-interest holders. What this tool does not model is which specific owner in a multi-party structure the primary-residence test attaches to.
- Interactions with federal, NY State, or NYC income tax. Note also that no existing abatement, credit or exemption offsets this surcharge (§1354(a)), and it sits outside the class-share machinery that caps ordinary assessed-value growth (§1354(d)).
Where the $1 million threshold reaches
The buildings with the most apartments at or above the tax’s $1 million DOF market value threshold for condos and co-ops, from the Department of Finance supplemental assessment roll published July 24, 2026. The roll is a value screen with no residency test, so these counts show where apartments cross the threshold, not how many owners owe the tax.
- The Towers of the Waldorf Astoria (303 Park Avenue) · 206 of 352 apartments at $1M+
- Central Park Tower (217 West 57th Street) · 144 of 179 apartments at $1M+
- 35 Hudson Yards · 123 of 143 apartments at $1M+
- The Greenwich Lane · 120 of 194 apartments at $1M+
- 53 West 53rd Street (MoMA Tower) · 111 of 161 apartments at $1M+
- The Park Loggia (15 West 61st Street) · 111 of 229 apartments at $1M+
- 200 Amsterdam Avenue · 98 of 277 apartments at $1M+
- 432 Park Avenue · 92 of 126 apartments at $1M+
- One57 (157 West 57th Street) · 91 of 132 apartments at $1M+
- One High Line (500 West 18th Street) · 90 of 235 apartments at $1M+
- 220 Central Park South · 89 of 117 apartments at $1M+
- 30 Riverside Boulevard (Two Waterline Square) · 88 of 160 apartments at $1M+
- A Judge Paused the Pied-à-Terre Tax — for About a Day → August 11, 2026
- Inside Hochul’s Pied-à-Terre Tax Proposal → May 17, 2026
- What the Pied-à-Terre Tax Would Mean Building-by-Building → May 17, 2026
- The Pied-à-Terre Tax Debate Returns. A Tale of Three Cities. → April 29, 2026
- The NYC Mansion Tax: Full Bracket Table and How It Actually Works →
- NYC Buyer Closing Cost Calculator →
- Manhattan Rent vs Buy Calculator →
- Hamptons: the Peconic Bay CPF transfer tax and the $2M exemption cutoff →
- Palm Beach: Florida documentary stamp tax & the homestead line →
- Aspen: the HOA / private RETA transfer assessment →
- Jackson Hole: Wyoming residency & no state income tax →
- Manhattan vs. Palm Beach: the second-home comparison, run end to end →
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.
Get a private assessment →