Enacted: Part HH of Chapter 59 of the Laws of 2026
Published 2026-05-28. Updated 2026-07-28.
Where does the surcharge actually sit in the statute books, when did it take effect, and when does it end?
The surcharge was enacted on May 28, 2026 in the state budget, as Part HH of Chapter 59 of the Laws of 2026. Its official name is the non-primary residence property surcharge. The adopted rule's own preamble also uses the colloquial name, pied-à-terre tax.
Where does it live?
- Tax Law Article 30-C: the enabling statute, the state authority for the city to impose it.
- Administrative Code Title 11, Chapter 32: the surcharge itself, in city law.
- 19 RCNY Chapter 62: the Department of Finance rules that implement it, adopted July 14, 2026.
Effective, and sunset
The surcharge is effective July 1, 2026 and sunsets June 30, 2031. Five years, written into the law at the moment of enactment.
What did enactment settle about the reach?
The proposal named $5 million second homes. The enacted law reaches Class 2 condominium and cooperative units at a Department of Finance market value of $1 million or more, and Class 1 one- to three-family homes over $5 million. Existing abatements, credits, and exemptions do not offset it.
Enactment did not carry the operating detail. The rules that supply it were proposed on June 5, 2026 and adopted on July 14, 2026, seven weeks after enactment and two weeks after the surcharge took effect. That gap is why summaries published in June read differently from the final rule.