Gov. Andrew Cuomo on Friday confirmed that the controversial pied-à-terre tax, an annual levy on nonresidents’ second homes valued at $5 million or more, is off the table. During a press conference Friday evening, the governor said the legislature is working on an alternative to replace the tax in the proposed state budget. Instead of an annual tax, officials are working on a proposal for a one-time transfer tax on “high-end properties, residential and commercial” […]
source https://therealdeal.com/2019/03/29/cuomo-confirms-pied-a-terre-tax-is-off-the-table-transfer-tax-could-replace-it/
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