Milton Coste

Licensed Real Estate Associate Broker

(917) 416-7433

NYC Pied-a-Terre Tax (2026): Rates, Deadline, Exemptions and a Free DOF Value Check

On the Department of Finance’s July 24, 2026 roll, 17,750 condo and co-op units carry a DOF market value of $1,000,000 or more, and if none of them were a primary residence the Phase 1 surcharge on them would come to about $1.67 billion a year. Most of them are someone’s home, which is why the city projects closer to $500 million a year from roughly 10,000 properties. This page has the rates, the dates, the exemptions and a free lookup of your own number.

Updated October 9, 2026

What the tax is, in one paragraph

The non-primary residence surcharge is an annual charge on the property tax bill for NYC homes, condos and co-op units that are not anyone’s primary residence. Through June 30, 2028 it is measured against the DOF market value, not a sale price, and the band rate applies to the whole value. I run this math on every second-home purchase I price, and the band a unit sits in matters more than the sale price.

The rates

Condominium and cooperative units

DOF market valueAnnual rateSurcharge at the band floor
$1,000,000 or greater, but less than $3,000,0004.0%$40,000
$3,000,000 or greater, but less than $5,000,0005.25%$157,500
$5,000,000 or greater6.5%$325,000

One-, two- and three-family homes

DOF market valueAnnual rateSurcharge at the band floor
$5,000,000 or greater, but less than $15,000,0000.8%$40,000
$15,000,000 or greater, but less than $25,000,0001.05%$157,500
$25,000,000 or greater1.3%$325,000

Source: NYC Department of Finance, verified October 9, 2026. The rate applies to the full value, and a value exactly on a floor takes the higher band.

Quick calculator

Enter the DOF market value (not a sale price) and the property type.

Key dates

DateWhat happens
May 27, 2026Surcharge enacted in the state budget (Tax Law Article 30-C).
July 1, 2026First city fiscal year the surcharge covers.
July 22, 2026DOF mailed notices to owners whose records did not establish a primary residence.
July 24, 2026DOF published the supplemental market value roll this site reads.
October 13, 2026Exemption application deadline for homes, condos and co-op units (nyc.gov/npsurcharge, PIN on the notice).
January 1, 2027Property tax bill on which the first charges appear.
July 1, 2028Phase 2 scheduled to begin for condos and co-ops.
June 30, 2031Article 30-C is repealed unless renewed.

Full timeline on the rates and deadlines page.

What does your unit’s DOF value come to?

Enter an address and apartment number. The value, the band and the Phase 1 figure show on screen, no form required.

Milton Coste | Licensed Real Estate Associate Broker | Keller Williams NYC | 917.416.7433

Who owes it, and the three ways out

The surcharge reaches a property only when no one on the statute’s list lives there as a primary residence. In practice an owner has three ways out:

1. Show a primary resident

The owner, an immediate family member, the majority holders of an owning entity, or a trust’s sole beneficiary. Exemptions and proof.

2. Lease it for a year or more

To a natural person who lives there as a primary residence, at arm’s length. Price the lease.

3. Sell

Weigh the annual charge against what a sale nets after the buyer’s mansion tax and your costs. Compare the options.

Not sure which applies? The exemption check walks through the statute’s list in a few questions, and the notice page covers what to file if DOF wrote to you.

Where the exposure sits

Counts and annual exposure by borough from the July 24, 2026 roll. Houses are shown only as totals; individual homes are never listed.

Manhattan

16,999 condo and co-op units over $1M

3,356 houses over $5M

Exposure about $1.92 billion a year

Brooklyn

694 condo and co-op units over $1M

3,311 houses over $5M

Exposure about $240.1 million a year

Queens

44 condo and co-op units over $1M

35 houses over $5M

Exposure about $29.9 million a year

Bronx

12 condo and co-op units over $1M

77 houses over $5M

Exposure about $11.4 million a year

Staten Island

1 condo and co-op units over $1M

23 houses over $5M

Exposure about $1.2 million a year

Across the city, 6,802 one- to three-family houses are valued at $5,000,000 or more.

The 10 buildings with the most exposure

BuildingNeighborhoodTypeUnits over the lineTop DOF valuePhase 1 exposure / yr
217 West 57th StreetCentral Park SouthCondo144 of 179$10,673,622$14,341,858
520 Park AvenueLenox HillCondo36 of 43$10,227,653$13,130,654
405 West 23rd StreetChelseaCondo2 of 2$109,070,134$12,921,740
138 Willoughby StreetBoerum HillCondo1 of 1$189,250,363$12,301,274
220 Central Park SouthCentral Park SouthCondo89 of 117$15,553,855$12,298,430
300 East 40th StreetMurray HillCondo1 of 1$185,577,596$12,062,544
301 Park AvenueMidtown EastCondo206 of 352$4,780,621$11,730,431
155 West 11th StreetGreenwich VillageCondo125 of 199$4,320,462$9,944,312
553 West 30th StreetHudson YardsCondo159 of 285$3,785,856$9,594,110
60 East 8th StreetNoHoCondo1 of 1$145,185,000$9,437,025

Phase 1 exposure is the flat surcharge on every unit at or over the line, as if none were a primary residence. It is a ceiling, not a bill.

Every building with at least one unit over the line has its own page; the full list is in the open data download.

Every tool and reference page

Questions people ask

What is the NYC pied-a-terre tax?

It is an annual surcharge on New York City residential property that is not anyone’s primary residence. Its official name is the non-primary residence surcharge, and it is written into NY Tax Law Article 30-C, enacted May 27, 2026 in the state budget, for city fiscal years starting July 1, 2026.

How much is the pied-a-terre tax?

Through June 30, 2028, condos and co-op units with a DOF market value of $1,000,000 or more pay 4.0%, 5.25% or 6.5% of the full value depending on the band. One- to three-family homes at $5,000,000 or more pay 0.8%, 1.05% or 1.3%. A condo valued at exactly $1,000,000 owes about $40,000 a year.

Is the pied-a-terre tax based on the sale price?

No. It is measured against the DOF market value, the value the city assigns for property tax. For condos and co-ops that value usually runs well below a sale price because DOF uses a rental-income method.

What is the pied-a-terre tax deadline?

If you received a DOF notice, the exemption application deadline is October 13, 2026, for homes, condos and co-op units. Owners file at nyc.gov/npsurcharge with the PIN printed on the notice.

When does the first pied-a-terre tax bill arrive?

If a property is subject to the surcharge, the first charges appear on the property tax bill due January 1, 2027, according to the Department of Finance.

Who is exempt from the pied-a-terre tax?

The property is exempt if it is the primary residence of the owner, of a tenant or subtenant, of an immediate family member (spouse, child, sibling, parent, grandparent or grandchild), of the individuals who together hold a majority interest in an owning entity that holds the full property, or of the sole beneficiary of a trust.

Does leasing my apartment exempt it?

Only when all four conditions hold: the tenant is a natural person, actually lives there as a primary residence, under a bona fide arm’s-length lease, for a term of at least one year. A lease alone does not carry the exemption.

My unit is on the supplemental roll. Do I owe the tax?

Not necessarily. DOF says appearing on the supplemental roll does not mean a property is subject to the surcharge. The roll lists values, not occupancy, and most listed properties are primary residences.

What changes in 2028?

From July 1, 2028, Phase 2 moves condos and co-ops to the same $5,000,000 threshold and 0.8%, 1.05% and 1.3% schedule that houses use, measured under a new DOF assessed-value system that is not finalized. The law is repealed June 30, 2031 unless it is renewed.

Did a court strike down the pied-a-terre tax?

No. On September 29, 2026, in O’Brien v. City of New York, a Richmond County judge held that the city’s rollout violated the homeowners’ due process rights. The ruling does not decide whether the tax is legal, and the city appealed the same night, which stays the order. File the exemption anyway.

Ask about your property

Tell me what you own and how it is used. I will reply within one business day with what the surcharge means for it and what keeping, leasing or selling would look like.

Milton Coste | Licensed Real Estate Associate Broker | Keller Williams NYC | License #10301213304

Ready to see your own number?

The lookup is free and shows the figure on screen first. If you want to talk through keeping, leasing or selling, call or message me.

Milton Coste | Licensed Real Estate Associate Broker | Keller Williams NYC | 917.416.7433

More on the NYC pied-a-terre tax

This page is educational and is not legal or tax advice. Rates, thresholds and dates come from NY Tax Law Article 30-C (text of the statute) and the NYC Department of Finance (non-primary residence surcharge page), checked October 9, 2026. Values come from the DOF supplemental market value roll of July 24, 2026 (DOF property assessments). A value on the roll shows exposure, not liability: the roll carries no occupancy information, and DOF says appearing on it does not mean a property is subject to the surcharge. Confirm your own situation with a New York attorney or your accountant. Milton Coste, Licensed Real Estate Associate Broker, Keller Williams NYC, 360 Madison Avenue, 9th Floor, New York, NY 10017.

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