Wealthy NYC second-home owners find few loopholes to escape new tax
New York City's new pied-à-terre tax is prompting affluent residents with multiple properties to seek legal strategies for avoidance. However, tax advisors report that available loopholes are extremely limited, leaving most owners facing the levy. The tax specifically targets second homes, creating a challenge for those hoping to sidestep it.
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Original headline: “Rich New Yorkers trying to dodge the new tax on second homes slam into a harsh reality.” Browse more stories.