What’s behind the sudden revival of Albany’s proposed pied-à-terre tax and why is the real estate industry so concerned? Gov. Andrew Cuomo has expressed his commitment to the legislation following a recent report that suggested the momentum behind the tax was waning. Under the current proposal, nonresidents who own homes with a market value of at least $5 million would be charged an annual fee. Brokerage executives have warned such a tax would hurt the […]
source https://therealdeal.com/2019/03/29/watch-whats-at-stake-with-albanys-proposed-pied-a-terre-tax/
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