Tax Tip #311

NYC has a new annual surcharge on certain properties, referred to as “pieds-à-terre,” that are not used as the owner’s primary residence. 

For property tax years 2026-2027 and 2027-2028, the surcharge may apply to: 

• One, two, and three family homes valued at more than $5 million (.8% - 1.3%) 
• Condominium and cooperative units valued at $1 million or more (4% - 6.5%) 

To find the value of a property: Property Assessments

To find properties that are exempt from the surcharge: Eligibility Guide 

Surcharge exemption applications & deadlines: 

• Residential homes and condominiums can be filed online by 9/18/26.
• Cooperative units can be filed online by 9/18/26. 

For more information on the non-primary residence property surcharge, click here.

Need assistance with the filing? Reach out to a team member. 

As of 8/10/26, a judge has put a temporary restraining order on this tax.