Wading through NYC’s messy pied-à-terre tax rollout

New York City’s public rollout of a new, controversial tax on pieds-à-terre got off to a rocky start. Last week, the Department of Finance sent notices to homeowners across the five boroughs whose properties could be subject to the surcharge — an apparently wide-net approach that notified primary residences and second homes alike. “I was surprised the city didn’t make an effort to determine who owes the tax and who doesn’t,” said Jody Kriss, founder of real estate investor and developer Kriss Capital. “I’m not saying the city could have gotten it perfect, but they could have eliminated a lot […]

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