Story Brief

New York City’s Department of Finance is sending a second wave of pied-à-terre tax letters to roughly 10,800 property owners, even as it mails a very different kind of letter to other owners from the first round, telling them, in effect, never mind. Roughly 17,000 owners received a notice this summer warning they might owe the surcharge, which applies only to non-primary residences amounts, with a rate of 0.8%–1.3% on homes over $5 million and 4%-6.5% on condos and co-ops over $1 million.

AI summaries can be wrong sometimes—always verify important details using the source article.