Back to today’s briefing

Story perspectives

Mamdanis Limits Pied-à-Terre Tax After 17,000 Letters

8/29/2026

49 12 Full Breakdown

Summary

Story summary

Mayor Zohran Mamdani reduced the pool of homeowners subject to New York City’s pied-à-terre tax.
The city mailed roughly 17,000 letters to owners of second homes valued over $5 million.
New letters will target about 10,800 owners of homes valued over $1 million.
Owners must prove full-time residence by Oct. 6 to avoid the surcharge.
Attorney Randy Mastro sued the city on Aug. 7, alleging the rollout was mishandled.

1 of 1

Story summary

Mayor Zohran Mamdani reduced the pool of homeowners subject to New York City’s pied-à-terre tax.
The city mailed roughly 17,000 letters to owners of second homes valued over $5 million.
New letters will target about 10,800 owners of homes valued over $1 million.
Owners must prove full-time residence by Oct. 6 to avoid the surcharge.
Attorney Randy Mastro sued the city on Aug. 7, alleging the rollout was mishandled.