The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
The Fiscal Policy Institute proposed the tax in 2014 , and it has been floating around Albany ever since. FPI's apparent belief that most of the high-end development sold ended up as empty pied-a-terres while wealthy buyers bid up the prices is incorrect. That article came out in 2014 right as the housing market was peaking.
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