New York City's new pied-à-terre tax is one of the most significant developments affecting owners of second homes and luxury residential properties in years. With filing deadlines approaching and the Department of Finance actively notifying potentially affected property owners, accounting and financial professionals are facing a growing number of questions regarding eligibility, exemptions, valuation methodologies, compliance requirements, appeals, and planning opportunities. The City has also launched new resources, including an eligibility tool and dedicated guidance for property owners, highlighting the importance of understanding the law's requirements and administrative processes.
Presented by FAE in partnership with the state and local tax professionals of Hodgson Russ LLP, this timely seminar provides a practical overview for navigating New York City's new non primary residence surcharge. Participants will gain a clear understanding of which taxpayers and properties may be affected, how the tax is calculated, and what exemptions and relief provisions may be available. The seminar will also address compliance obligations, valuation considerations, documentation requirements, administrative procedures, and strategies for responding to notices, challenging assessments, and advising clients impacted by the new law.
Whether you advise New York residents, nonresidents, real estate investors, family offices, or owners of second homes and luxury residential properties, this seminar will provide timely guidance to help you navigate one of the most closely watched tax developments in New York.
By the end of this seminar, participants will be able to: