Tax targets: The industry dodged a bullet, but the PAT tax could be back in the crosshairs later this year

For a roughly eight-week stretch, New York real estate players were facing a doomsday scenario in the form of a looming pied-à-terre tax that had garnered broad support in Albany. But over the course of 12 hours on March 25, lawmakers abruptly pivoted away from an annual pied-à-terre assessment in favor of restructuring the city’s transfer tax system. By the evening of the 25th, the pied-à-terre tax wasn’t quite dead, but it was “headed there,” according […]

source https://therealdeal.com/issues_articles/pied-a-terre-tax-nyc/#new_tab