New York Takes Two-Step Approach on Multimillion-Dollar Second-Home Tax

The New York Times, May 14, 2026-Benjamin Oreskes, Dana Rubinstein and Mihir Zaveri
A new tax surcharge on the second homes of wealthy part-time residents of New York City would initially target co-ops and condos that have at least $1 million in “market value,” a bureaucratic metric that often vastly understates a home’s actual worth.
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