Brief
NYC Comptroller Raises Questions About Pied-a-Terre Tax’s Revenue Potential
The Mamdani administration’s proposed pied-a-terre tax could raise more than $500 million in revenues annually, but substantial variables in the design, implementation, and enforcement of the program
Summary
The Mamdani administration’s proposed pied-a-terre tax could raise more than $500 million in revenues annually, but substantial variables in the design, implementation, and enforcement of the program could result in the estimate falling by as much as one-third, New York City Comptroller Mark Levine reported.
The tax would be levied on an estimated 11,200 residential properties valued at $5...
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Source
- Connect CREconnectcre.com
