The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
In the original 2014 proposal by the Fiscal Policy Institute, the first item in the proposal is off to a bad start as they describe what happened in the market: These owners bid up the price of NYC residential real estate, and since they don’t spend much time in these units, contribute little to the local economy compared to full-time residents.
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