Backlash Over NYC Pied-à-Terre Tax Residency Letters
New York City homeowners are receiving Department of Finance letters demanding proof they live in their homes as their primary residence or face a pied-à-terre tax surcharge on properties valued above $5 million; critics say the rollout is sloppy and burdens middle-class homeowners, while the city says the list is from public records and residents can challenge it. The policy, part of Gov. Hochul's budget plan, is expected to raise about $500 million annually; exemptions can be applied by Aug. 21.