The Comptroller's office scores the proposal
Published 2026-04-30. Updated 2026-07-28.
$340 million to $381 million against a $500 million claim, and two different property counts inside one report.
On April 30, 2026, the New York City Comptroller's office published an analysis of the pied-à-terre tax and its potential revenues. The range it produced: $340 million to $381 million a year. City Hall's announcement two weeks earlier had put the figure at about $500 million.
The two counts
The report is also the first public accounting of how many properties are in scope. Two numbers come out of it, and they describe different sets.
- 19,107 properties analyzed.
- 11,226 properties after a market-value adjustment.
Either number quoted on its own, without saying which one it is, describes a different universe of properties than the reader will assume. The distance between them is 7,881 properties, which is the effect of the report's own market-value adjustment rather than a rounding difference.
A range is not a point estimate either
Both $340 million and $381 million are in the report. Coverage that quotes a single Comptroller number has already dropped the part of the finding that says how uncertain it is.
A revenue estimate is not a property count
A revenue figure answers what the city collects. A property count answers how many owners get a notice in the mail. Neither substitutes for the other, and the two move for different reasons: an exemption granted takes a property out of one and its dollars out of the other, while a valuation change can move the dollars alone.