Mamdani’s team sends memo to ‘upset’ New Yorkers over million-dollar home tax
In a recent development, New York City's Finance Commissioner delivered a memo about the pied-à-terre tax that he could not present in person due to ongoing litigation. The memo specifies that the supplemental roll does not automatically create tax liabilities for property owners. To evade the surcharge, homeowners are encouraged to provide evidence of their primary residency. Notably, the…
Mayor Zohran Mamdani's administration did not attend the City Council hearing on the implementation of the pied-à-terre tax on Tuesday, August 25. Finance Commissioner Richard Lee submitted a written memo to address concerns from New York homeowners. The tax, enacted in May, imposes a progressive surcharge on non-primary residences valued at $5 million or more and condos or co-ops worth $1 million or more.
DOF sent letters to 17,000 addresses and published valuations for nearly 960,000 properties. Many homeowners received letters for their primary homes and raised privacy concerns over the release of property records. Lee's memo clarified that the surcharge provides a basis for owners to challenge valuations, not a tax bill. Homeowners can submit proof of primary residency to avoid the surcharge.
DOF has extended the deadline for appeals to September 18, 2026 and is hiring additional staff to assist residents.
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