The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
The market value of these properties will be based on a "comparable sale-based valuation method." which seems in direct conflict with state law since co-ops and condos are valued as rentals by state law in NYC. You probably think of the market value of your co-op or condo as the price you could sell it for on the open market.
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