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New York’s pied-à-terre tax might result in significant bills for all co-ops.

New York's pied-à-terre tax might result in significant bills for all co-ops.

A new pied-à-terre tax in New York State is raising concerns, particularly among real estate professionals and co-op advocates. They argue the legislation, initiated by Governor Kathy Hochul and supported by Mayor Zoran Mamdani, seems to overlook the intricacies of how co-op buildings function. “It’s the building as a whole that suffers, not just the […]