What is a pied-à-terre tax; Does Philly tax second homes?
What is a pied-à-terre tax; Does Philly tax second homes?
Kaitlyn McCormick, USA TODAYFri, April 17, 2026 at 7:32 PM UTC
0
In New York City, Mayor Zohran Mamdani, aside State Gov. Kathy Hochul, announced new plans to enact the state's first pied-à-terre tax, sparking questions in the tri-state area about what the tax entails and what other states have tried the same act before.
Has Philadelphia ever imposed a tax on second homes?
Whether you have a second home here, a second home there or are just plain curious, here's how Mamdani's tax efforts could impact you if passed.
What is a What is pied-à-terre tax?
A pied-à-terre tax is a tax on secondary, or non-primary homes.
In New York City, this tax would apply to properties valued above $5 million when families or owners have a different primary residence outside of the city.
"The measure targets ultrawealthy out-of-city residents and global elites who use New York City real estate as a vehicle for wealth storage rather than as homes," a release from the city explained.
Advertisement
New York City Mayor Zohran Mamdani speaks during a Passover seder gathering in Manhattan on April 6, 2026.Will my second home in NYC get taxed under Mamdani, Hochul?
While Hochul and Mamdani have announced the new tax for absentee owners, it still needs to pass in the state's budget.
The tax applies to homes in the city that are valued over $5 million and are not primary residences. Examples used by the politicians include Chicago-based Ken Griffith, who owns a $238 million penthouse and Russia's Alexander Varshavsky, an auto-dealer that owns a $20.5 million property.
So, in short, if you happen to own a second home in the city that's worth over $5 million, you'll be taxed pending the state budget.
Does Philadelphia, Pennsylvania have pied-à-terre tax?
The city's tax center for property and real estate taxes makes no mention of a pied-à-terre tax, or different taxations for primary and secondary residences in the city.
Per a representative of the city's Department of Revenue, Pennsylvania includes a "uniformity clause" in its constitution, so the city's real estate taxes are the same for all property types, regardless of where the owner resides.
Kaitlyn McCormick is a Philadelphia-based reporter writing all things trending, breaking and city-related for USA TODAY's Philadelphia Metro Connect Team.
This article originally appeared on USA TODAY: What is a pied-à-terre tax; Does Philadelphia tax second homes?
Source: “AOL Breaking”
