For co-ops, pied-à-terre tax leaves more questions than answers

This story gives you a peek at the content coming to our new platform, TRD Policy Pro. Sign up to get early access here. New York lawmakers have chased a tax on high-priced second homes for over a decade. A pied-à-terre tax nearly crossed the finish line in 2019 — until political momentum evaporated as quickly as it was built. Legislative leaders blamed administrative headaches, with co-op buildings a key sticking point. On April 15, Gov. Kathy Hochul revived the effort with a late-stage budget push targeting New York City units valued at $5 million or more that aren’t primary […] This article originally appeared on The Real Deal. Click here to read the full story.