NYC Pied-à-Terre Tax Calculator
Governor Hochul announced a proposed annual surcharge on high-value NYC second homes on May 14, 2026 — 0.8%–1.30% for single-family houses above $5M, and 4.00%–6.50% in years 1–2 for condos and co-ops at $1M+ in DOF-assessed value (about $5M+ in sale price). The proposal is still in negotiation with the New York State Legislature; a separate 1% all-cash transfer tax on NYC sales has been floated by lawmakers the same week. This calculator runs the surcharge math for a specific apartment across the proposal’s full 5-year program window.
Updated May 17, 2026. The bracket math reflects the proposal as detailed; both the proposal and the city’s required year-3 revaluation methodology remain subject to change.
- The undefined year-3+ revaluation methodology — assumes sale price as the base, which is the proposal’s stated intent but may differ from the city’s eventual implementation.
- The separate 1% all-cash transfer tax that state lawmakers floated the same week as this proposal — a different policy, with its own math.
- 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.
Schedule a 30-minute consultation →