The Advisor's Quick Reference

If you advise NYC property owners — as a CPA, attorney, trustee, managing agent or broker — the surcharge has probably reached your inbox. This page is the working reference we'd want in your position: the statute-exact numbers with sources, the deadlines that bind, the traps clients walk into, and a free way to get any property's official DOF valuation into your file the same day — run by Conquest, a Manhattan brokerage that works with owner clients like yours.

The statute in one table

Item	Rule
Authority	NY Tax Law Article 30-C (§1353); DOF final rules adopted July 14, 2026
Base	DOF market value (the NOPV "Market Value" line) — not assessed value, not sale price
Condo/co-op threshold & rates (Phase 1, to Jun 30 2028)	$1,000,000; flat 4% ($1M–$3M), 5.25% ($3M–$5M), 6.5% (>$5M) on the FULL value
1–3-family threshold & rates	$5,000,000; flat 0.8% / 1.05% / 1.3% on the full value
Co-op valuation	Fractional share: building DOF value × ownership %; DOF published per-unit values for 36,677 units (764 buildings) on the July 2026 roll
Exemptions (claimed, not automatic)	Primary occupancy >half year by owner OR immediate family (spouse, child, sibling, parent, grandparent, grandchild) OR a bona fide 12-month arm's-length lease to a natural-person primary resident
Entities	Full look-through to natural persons; tiers disregarded; entire-interest analysis; no-majority entities taxable regardless of occupancy absent a qualifying tenant
Abatements/credits	Do not offset — the surcharge stacks
Key dates	Effective Jul 1, 2026 · exemption applications Sept 18 (homes/condos) / Sept 18 (co-ops), 2026 · 30-day rebuttal window per notice · notices mail by Aug 30 · roll correctable through Dec 2026 · first payment due Jan 1, 2027 · Phase 2 (comparable-sales re-basing, $5M threshold) from Jul 1, 2028 · sunset Jun 30, 2031
Penalties	False residency documentation: 50% of the surcharge on top of the reimposed tax · misleading valuation submissions: up to 300% of the understatement, capped at 50% of the surcharge
Residency proof DOF accepts	Most recent state/federal return showing the address, or two of: NYS license/non-driver ID, voter registration card, other DOF-acceptable documentation

The five client conversations, pre-answered

• "I got the letter but I live there." Wrong-classification cases resolve on documents inside the window — the walkthrough your client can follow alone: /i-live-here.
• "Does my LLC protect me?" No — and the no-majority rule can be worse than direct ownership: the entity guide. Trusts and estates (probate does not pause the clock): the trust guide.
• "The co-op number looks wrong." Fractional-share values surprise in both directions; the roll is correctable through December 2026: the co-op guide · appeal channels.
• "Should we just claim it's primary?" The residency trap belongs in every advisor's script: asserting NYC primary residence to dodge a ~$50k surcharge can expose worldwide income to NY State and City tax. The occupancy exemptions that don't touch residency are usually the answer.
• "Pay, rent or sell?" The framework with honest costs on all three doors: /sell-vs-rent — and our free per-unit analysis puts real figures on each.

What we provide for your client files — free

For any NYC address, we return an emailed, dated report: the official DOF market value with provenance (live assessment roll + the July 2026 supplemental roll), the statutory surcharge computation under the stated methodology (flat-rate reading, counsel-confirmed conservative), both schedules where DOF's classification is ambiguous, and the exemption paths that fit the stated facts. It's an educational estimate, clearly labeled — but it's a defensible, citable starting number for your memo, dated before the deadline. Run it at the checker, or email the property list to piedaterre@conquest.nyc and we'll run a batch.

Working with Conquest

We're a licensed New York brokerage. Where a client's answer ends up being a qualifying 12-month lease or a sale, that's our lane — and referrals in both directions are welcome. Where it doesn't, the report costs nothing and we're glad your client got a straight answer. Direct line for advisors: +1 (646) 480-6095.

Questions owners ask

What should a CPA or attorney check first for a client with a pied-à-terre tax notice?

Three things in order: the exemption-application deadline of September 18, 2026 (extended, and the same for every property type); the property's official DOF market value (the threshold test — many notices go to properties that fail it); and which exemption fits the facts — primary occupancy, immediate-family occupancy, or a 12-month arm's-length lease. DOF accepts a recent tax return showing the address or two identity documents as residency proof, within 30 days of the notice.

Can advisors get DOF valuations for client properties in bulk?

Yes — piedaterretax.nyc runs free dated valuation reports (official DOF market value, surcharge computation, ambiguity flags) for any NYC address, and batch requests for client lists are accepted by email. Reports are educational estimates under a published methodology, suitable as citable starting figures for client memos.

What is the biggest malpractice trap in pied-à-terre tax advice?

Asserting NYC primary residence to avoid the surcharge for a client whose tax life is built on non-NY residency — the surcharge saved is routinely dwarfed by the New York State and City income-tax exposure created. The occupancy-based exemptions (family occupancy, qualifying lease) solve most cases without touching residency.

Disclaimer. This page is educational information from Conquest, a licensed New York real estate brokerage. It is not legal, tax, or accounting advice, and no advisory relationship is created by reading it. Deadlines and figures reflect DOF's published rules and roll as of the "last updated" date above.