Pied-à-Terre Tax: $500M Plan to Hit 13,000 NYC Units
New York's pied-à-terre surcharge would raise about $500 million a year by taxing roughly 13,000 secondary homes worth $5 million or more; Albany must approve the change.
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30-year US Treasury yield rose to 5.06%, pushing 10-year yields into the mid-4% range and knocking stocks lower. Markets eye BOJ and long-dated auctions.
New York's pied-à-terre surcharge would raise about $500 million a year by taxing roughly 13,000 secondary homes worth $5 million or more; Albany must approve the change.
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