17 as officials released data showing more than half the exemption requests sought by property owners so far have been granted. As of Tuesday around 9,300 applications had been received by the city Department of Finance, of which more than 5,200 properties have been deemed primary residences by the agency and therefore exempt from the tax.
That’s a success rate of 55%. An analysis by The City Reporter found that more than 6,400 of the 17,000 properties the city initially tagged as likely subject to the surcharge — nearly 40% — have since been found to be primary residences exempt from the tax.
A property is exempt when the owner can demonstrate that it’s their own primary residence or that of a full-time tenant or a close relative. More than 6,400 of the 17,000 properties the city initially tagged as likely subject to the new pied-à-terre tax — nearly 40% — have since been found to be exempt from the tax.
Credit: Alex Krales/The City Reporter Jae Ko, a spokesperson for the finance department, said the city decided to extend the filing deadline in response to a lawsuit filed by attorney Randy Mastro, a former top city official, that persuaded a judge to order a halt to the rollout of the new tax.
That lawsuit and two others pending in a Long Island court contesting the constitutionality of the surcharge on luxury second homes have “created a lot of unnecessary confusion,” Ko said, and the extension will ensure “that New Yorkers have the time and information they need to apply.” “While this legal process moves forward, we will continue administering the surcharge fairly, efficiently and in full compliance with the law, as we have done from day one,” he added.