There is so much churn, anger, confusion and news from all political spectrums that I wanted to give an update on where the pied-à-terre (PAT) tax stands. It’s admittedly wonky, but I found it helpful to go through. Typically I’d rather watch paint dry than talk about taxes, but here we are. Thinking about NYS/NYC income tax versus PAT A true nonresident who owns a second home in NYC pays no NYS or NYC personal income tax on their income. A NYC resident in the upper tax brackets pays a combined marginal rate of roughly 14 percent at their top […]

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