October 6 Deadline Replaces Earlier Dates
New York City extended the exemption application deadline for its new pied-à-terre tax to October 6, 2026, giving second-home owners four additional weeks beyond the original cutoff dates.
The Mayor's Office announced the extension on August 1, 2026, after property owners received Department of Finance notices with earlier deadlines of August 21 for condos and houses, and August 24 for co-op units. Those original dates no longer apply.
The extension covers all property owners who received DOF's "You may be subject to..." notices for the surcharge, which applies to condos and co-ops valued above $1 million and houses above $5 million that serve as non-primary residences.
The January 5, 2027 Taxable Status Date
Whether a property qualifies as a non-primary residence gets determined on January 5, 2027 — the taxable status date for the 2027-2028 fiscal year.
This date matters more than how many days an owner actually spent in the unit during 2026 or 2027. DOF evaluates primary residence status as of this single snapshot date, using factors like voter registration, driver's license address, and tax filing location.
Consider a Manhattan co-op owner who splits time between the city and Connecticut. If her primary residence on January 5, 2027 is the Connecticut house — based on where she's registered to vote and files taxes — the Manhattan unit would be subject to the surcharge for the entire 2027-2028 tax year.
Tax Year Structure and Payment Schedule
The pied-à-terre tax runs on New York City's fiscal year calendar, starting July 1, 2026 and ending June 30, 2031 when the law sunsets.
First payments come due January 1, 2027 for the 2026-2027 tax year. DOF published its assessment roll addendum on July 25, 2026, identifying properties it initially classified as non-exempt.
The surcharge applies as a flat percentage of DOF's market value once a property crosses the threshold. For condos and co-ops, that means 4% on the full market value between $1 million and $3 million, 5.25% from $3 million to $5 million, and 6.5% above $5 million.
Appeal Windows and What Comes Next
Property owners have 30 days from when DOF transmits a non-primary residence notice to file an appeal. DOF was required to mail these initial determinations by August 30, 2026.
Conquest's analysis of DOF's July 2026 Supplemental Market Value Roll shows roughly 24,000 units citywide would owe the surcharge if classified as non-primary residences. Manhattan accounts for about 17,000 condos and co-ops in that group, with an average surcharge of roughly $69,000.
Starting July 1, 2028, the law enters Phase 2, when condo and co-op valuations will shift toward comparable sales methodology and potentially higher rates. The 2027 taxable status date on January 5 will determine liability for that second phase as well.
Frequently asked questions
Is my apartment subject to the pied-à-terre tax if it's worth over $1 million?
Your condo or co-op is subject to the pied-à-terre tax if it's valued above $1 million and serves as a non-primary residence, while houses must be valued above $5 million. Whether it qualifies as a non-primary residence gets determined on January 5, 2027 based on factors like voter registration, driver's license address, and tax filing location.
How much is the tax on my Manhattan condo worth $2 million?
For condos and co-ops, the surcharge is 4% on the full market value between $1 million and $3 million, so a $2 million condo would owe $80,000 annually. The tax applies as a flat percentage of DOF's market value once a property crosses the threshold.
When is the deadline to apply for exemption from the pied-à-terre tax?
The exemption application deadline is October 6, 2026, which replaced the original August deadlines after the Mayor's Office announced an extension on August 1, 2026. This gives property owners four additional weeks beyond the original cutoff dates of August 21 for condos and houses, and August 24 for co-op units.