How much is the NYC pied-à-terre tax on a $2 million apartment?

Usually nothing. The surcharge runs on the unit's DOF market value, not its price — and for condos that income-derived figure typically lands around 25–40% of open-market price, so most $2M condos carry a DOF value well under the $1M threshold. The exception is units in buildings with very high rental income, where the DOF value can clear $1M; then the charge is a flat 4% of the full DOF value, roughly $40,000+ a year. The only way to know which case you're in is the unit's actual roll value.

How much is the pied-à-terre tax on a $5 million condo?

A $5M condo commonly carries a DOF market value in the $1.4M–$2M range, which puts a non-primary unit in the 4% bracket: roughly $56,000–$80,000 every year. Some run below $1M and owe nothing; a few run higher. The figure is a flat rate on the entire DOF value, not on the excess over $1M.

How much is the pied-à-terre tax on a $10 million apartment?

Expect a DOF market value very roughly in the $2.5M–$4M band, which spans the 4% and 5.25% brackets — call it $100,000–$210,000 a year while the unit is nobody's primary residence. At the extreme end the numbers get much larger: a 220 Central Park South unit with a $15.55M DOF value owes 6.5% — $1,011,001 a year, verified against DOF's own export.

Is the tax the same for townhouses as for condos?

No — houses have their own Phase 1 schedule with a higher threshold and lower rates: nothing under $5M of market value, then 0.8% ($5–15M), 1.05% ($15–25M) and 1.3% (over $25M), applied to the full value. And unlike condos, DOF values 1–3 family houses near true market, so purchase price is a good proxy: a $8M townhouse kept as a second home owes about 0.8% × $8M = $64,000 a year.

Can I avoid the annual charge?

Yes — this tax is optional in a way most taxes are not. It applies only while the home is nobody's primary residence: living there more than half the year (you or immediate family) exempts it, and so does an arm's-length lease of 12 months or more to a tenant who makes it their primary home. Otherwise it recurs every year through at least June 30, 2031.

What a Pied-à-Terre Costs Per Year in NYC (2026): $2M, $5M, $10M and Up

The one thing to understand first

The surcharge is computed on your unit's DOF market value — the Department of Finance's income-derived figure on the assessment roll — never on what you paid. For condos and co-ops that figure typically runs around 25–40% of open-market price: the TriBeCa condo at 56 Leonard that trades around $4.5M carries a DOF market value of $1,390,768. For 1–3 family houses the opposite holds — DOF values them near true market, so price is a fair proxy. Every estimate below flows from that split, and every bracket is a flat rate on the full value, not a marginal rate on the excess.

The actual 2026–2028 schedules

Property	DOF market value	Rate (flat, on full value)
Condos & co-ops	$1M – $3M	4%
	$3M – $5M	5.25%
	Over $5M	6.5%
1–3 family houses	$5M – $15M	0.8%
	$15M – $25M	1.05%
	Over $25M	1.3%

Condos & co-ops, price point by price point

Ranges reflect where DOF values typically land across the 630 buildings in our database; individual buildings vary widely, which is exactly why the roll number decides.

Purchase price	Typical DOF value	Likely annual surcharge (non-primary)
$1.5M	~$400K – $600K	$0 — under the $1M threshold
$2M	~$550K – $800K	Usually $0; high-income buildings can clear $1M → ~$40K+
$3M	~$850K – $1.3M	Straddles the line: $0 or ~$40K–$52K (4%)
$5M	~$1.4M – $2M	~$56K – $80K (4%)
$8M	~$2.2M – $3.2M	~$90K – $170K (4% or 5.25%)
$15M	~$4M – $6M	~$210K – $390K (5.25% or 6.5%)
$25M+	often $7M+	$455K+ (6.5%) — the verified extreme: a 220 CPS unit at $15.55M DOF owes $1,011,001

Two honest caveats. First, the $2M–$3M band is where guessing hurts most: the difference between a $980K and a $1.05M roll value is the difference between $0 and $42,000 a year, forever. Second, these are Phase 1 numbers — from July 2028, Phase 2 re-tests everything at a single $5M threshold on comparable sales, which will pull many high-priced condos out and some back in.

Townhouses & 1–3 family houses

Market value ≈ price	Annual surcharge (non-primary)
Under $5M	$0
$6M	0.8% → $48,000
$10M	0.8% → $80,000
$20M	1.05% → $210,000
$30M	1.3% → $390,000

What the annual number really buys you: a decision

Unlike the one-time mansion tax you paid at closing, this charge is a live yearly choice: pay it, lease your way out with a 12-month arm's-length tenant, move immediate family in as their primary home, or sell and redeploy — though before selling to escape the tax, read Sell or Bridge to 2028?: for sub-$5M homes the exit usually costs more than the two-year bridge. Owners abroad have their own playbook — see the foreign owners guide. And if DOF's value itself looks wrong, it can be challenged.

Stop estimating — pull your unit's real number

Every range above collapses to one exact figure the moment you look at the roll. We pull your unit's official DOF market value, run the surcharge test, and email a written report — free, usually within the hour: check your address.

Educational estimates, not tax advice. Typical-value ranges are observational, drawn from published assessment-roll figures across our building database; your unit's actual DOF market value governs. Rates per the DOF final rules adopted July 14, 2026.