There were a lot of taxes on upper-income earners in the final New York State budget. Many of them were new.
However, one that was not included involved a surcharge on second homes.
While progressives have called for the tax, Albany failed to put together something that could work in this budget. Specifically, as has been the case in the past- enforcement was cited as a challenge.
“The PAT tax, which was being considered for inclusion in the New York State Budget, would have had disastrous short- and long-term implications for our industry, as well as many of the homeowners we serve,” the the Coalition for Livable Neighborhoods said. “Today, thanks to that grassroots effort, the PAT tax was rejected, issuing an important win to the City of New York, its community of brokers, and its current and future homeowners.”Want the latest headlines in your inbox each morning? Click here to sign up for our Morning Edition and Sunday Insight newsletters. They are dedicated to keeping you in the know. You can also download the FingerLakes1.com App for Android (All Android Devices) or iOS (iPhone, iPad)