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 value | Annual rate | Surcharge at the band floor |
|---|---|---|
| $1,000,000 or greater, but less than $3,000,000 | 4.0% | $40,000 |
| $3,000,000 or greater, but less than $5,000,000 | 5.25% | $157,500 |
| $5,000,000 or greater | 6.5% | $325,000 |
One-, two- and three-family homes
| DOF market value | Annual rate | Surcharge at the band floor |
|---|---|---|
| $5,000,000 or greater, but less than $15,000,000 | 0.8% | $40,000 |
| $15,000,000 or greater, but less than $25,000,000 | 1.05% | $157,500 |
| $25,000,000 or greater | 1.3% | $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
| Date | What happens |
|---|---|
| May 27, 2026 | Surcharge enacted in the state budget (Tax Law Article 30-C). |
| July 1, 2026 | First city fiscal year the surcharge covers. |
| July 22, 2026 | DOF mailed notices to owners whose records did not establish a primary residence. |
| July 24, 2026 | DOF published the supplemental market value roll this site reads. |
| October 13, 2026 | Exemption application deadline for homes, condos and co-op units (nyc.gov/npsurcharge, PIN on the notice). |
| January 1, 2027 | Property tax bill on which the first charges appear. |
| July 1, 2028 | Phase 2 scheduled to begin for condos and co-ops. |
| June 30, 2031 | Article 30-C is repealed unless renewed.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
| Building | Neighborhood | Type | Units over the line | Top DOF value | Phase 1 exposure / yr |
|---|---|---|---|---|---|
| 217 West 57th Street | Central Park South | Condo | 144 of 179 | $10,673,622 | $14,341,858 |
| 520 Park Avenue | Lenox Hill | Condo | 36 of 43 | $10,227,653 | $13,130,654 |
| 405 West 23rd Street | Chelsea | Condo | 2 of 2 | $109,070,134 | $12,921,740 |
| 138 Willoughby Street | Boerum Hill | Condo | 1 of 1 | $189,250,363 | $12,301,274 |
| 220 Central Park South | Central Park South | Condo | 89 of 117 | $15,553,855 | $12,298,430 |
| 300 East 40th Street | Murray Hill | Condo | 1 of 1 | $185,577,596 | $12,062,544 |
| 301 Park Avenue | Midtown East | Condo | 206 of 352 | $4,780,621 | $11,730,431 |
| 155 West 11th Street | Greenwich Village | Condo | 125 of 199 | $4,320,462 | $9,944,312 |
| 553 West 30th Street | Hudson Yards | Condo | 159 of 285 | $3,785,856 | $9,594,110 |
| 60 East 8th Street | NoHo | Condo | 1 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
- Free DOF value lookup
- Exemption check
- Sell or lease calculator
- Mansion tax calculator
- Open data: CSV downloads
- Rates and deadlines
- Exemptions and proof
- Got a DOF notice
- Legal challenges
- Glossary
- For CPAs and attorneys
- Methodology
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.
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.