New York City second-home owners have nine days to file exemption applications before the October 6 pied-à-terre tax deadline, with roughly 24,000 units citywide exposed to surcharges averaging $68,559 for Manhattan condos and co-ops if they fail to qualify.
The Department of Finance extended the deadline twice from its original August dates, but October 6 represents the final opportunity for owners who received DOF notices indicating possible surcharge liability. The tax takes effect July 1, 2026, with first payments due January 1, 2027.
Conquest's analysis of DOF's July 2026 Supplemental Market Value Roll shows Manhattan holds 16,709 condos and co-ops above the $1 million threshold, facing average surcharges of $68,559. Brooklyn houses account for another 3,311 units above the $5 million threshold for single-family properties.
Two Forms, Different Requirements
DOF requires separate applications depending on property type. Residential homes and condominiums use one form. Cooperative apartments require a different co-op-specific application.
The surcharge applies to non-primary residences based on DOF market value, not assessed value or purchase price. For condos and co-ops, rates start at 4% for properties valued $1 million to $3 million, rising to 5.25% for $3 million to $5 million, and 6.5% above $5 million.
Primary residence status gets determined as of January 5, 2026, for the first covered fiscal year. An owner qualifies for exemption if the property served as the primary residence of the owner, immediate family member, qualifying tenant, or majority-interest entity holder on that date.
Documentation and Portal Risks
Applications may be submitted through DOF's online portal or by mail, but the current research does not establish whether portal upload errors preserve the original filing date or whether rejected applications can be corrected after October 6.
Consider a Manhattan co-op owner whose $1.5 million unit would generate a $60,000 annual surcharge. If their adult child used the apartment as a primary residence on January 5, 2026, proper documentation of that family occupancy could eliminate the entire tax liability.
Owners should retain portal confirmation receipts or mailing proof and should not treat upload errors as completed filings. The safest approach treats any portal rejection as requiring immediate resubmission before the deadline passes.
Frequently asked questions
Is my apartment subject to the NYC pied-à-terre tax if it's worth over $1 million?
The surcharge applies to non-primary residences based on DOF market value, with rates starting at 4% for condos and co-ops valued $1 million to $3 million. You can qualify for exemption if the property served as the primary residence of you, an immediate family member, qualifying tenant, or majority-interest entity holder on January 5, 2026.
How much is the tax on a Manhattan condo worth $1.5 million?
A $1.5 million Manhattan condo would generate a $60,000 annual surcharge based on the 4% rate for properties valued $1 million to $3 million. The tax takes effect July 1, 2026, with first payments due January 1, 2027.
Does the October 6 deadline apply to all NYC second homes?
October 6 represents the final opportunity for owners who received DOF notices indicating possible surcharge liability to file exemption applications. The Department of Finance extended the deadline twice from its original August dates, but this is the final deadline.