NYC extends deadline to file for pied-à-terre tax exemption
NYC extends pied-à-terre exemption deadline; Hamas agrees to potential peace deal
New York City has extended deadline to apply for an exemption for the city's new pied-à-terre tax from Aug. 21 to Sept. 18. Also, Hamas says it has agreed to a deal that would require they disarm. The deal also requires Israel to withdraw its troops from Gaza, but Israel hasn't yet formally responded to the potential deal.
NEW YORK - Officials announced Saturday that they were extending a deadline to file for an exception to the city's new pied-à-terre tax.
Pied-à-terre tax exemption extension
What we know:
The deadline to apply for an exemption has been pushed back from Aug. 21 to Sept. 18, and applies to homeowners who previously received a letter from the Department of Finance, saying that they might be subject to the new surcharge.
The new deadline, officials said, is meant to give homeowners time to prove that the home in question is their primary residence, or to get guidance on the application from the Department of Finance.
Featured
NYC launches website for property owners to check if they're exempt from new tax
NYC's Department of Finance has launched a portal dedicated to guiding certain property owners through the new "pied-à-terre" tax.
"The pied-à-terre tax is an important new tool to help our city collect the revenue we need for safer streets, cleaner parks, and other critical investments across the five boroughs," said Mayor Zohran Mamdani. "We are announcing the extension of the exemption application deadline to ensure that New Yorkers who received the ‘You may be subject to...’ letters have the time and information they need."
Earlier this week, the city also launched an online portal meant to help guide homeowners about whether their property applies. The site features an "eligibility guide" for property owners to see if they're exempt from the surcharge.
What is New York City's pied-à-terre tax?
The backstory:
The pied-à-terre surcharge targets the owners of luxury properties who don't use those homes as their primary residence.
Under the tax, one-to-three family homes valued at more than $5 million face a graduated surcharge based on the property's assessed market value.
The Source: Information in this story is from Mayor Zohran Mamdani's office and previous FOX 5 NY reports.