Policy Reports

Revenue Forecast on Pied-à-Terre Tax Proposal

REBNY Press

March 17, 2019

According to publicly available data from NYC’s Automated City Register Information System (ACRIS) and the Department of Finance’s Rolling Sales file, a proposed tax on nonprimary residences worth more than $5 million would reap $372 million per year—far less than the previously estimated $665 million.