{"data":{"id":"us-ny/n.y.-tax-law-1350","jurisdiction":"us-ny","citation":"N.Y. Tax Law § 1350","heading":"Imposition of surcharge","body":"* § 1350. Imposition of surcharge. In addition to any other tax or\nassessment imposed by this chapter or other law, there is hereby\nimposed, beginning on July first, two thousand twenty-six, a surcharge\nin accordance with this article on a covered property, or in the case of\na covered property that is a residential cooperative property, a\nresidential cooperative dwelling unit, that is not a primary residence,\nprovided that (a) for fiscal years beginning on or after July first, two\nthousand twenty-six, and before July first, two thousand twenty-eight,\nthe phase one market value of such covered property that is a class one\nproperty is equal to or greater than five million dollars, the phase one\nmarket value of such covered property that is a residential condominium\ndwelling unit is equal to or greater than one million dollars, or, in\nthe case of a covered property that is a residential cooperative\nproperty, the phase one market value of a residential cooperative\ndwelling unit within such residential cooperative property is equal to\nor greater than one million dollars; and (b) for fiscal years beginning\non or after July first, two thousand twenty-eight, the phase two market\nvalue of such covered property or, in the case of a covered property\nthat is a residential cooperative property, such residential cooperative\ndwelling unit, is equal to or greater than five million dollars.\n  * NB Repealed June 30, 2031","path":["Tax Law","Article 30-C. City Surcharge On Property That Does Not Serve As a Primary Residence"],"source_url":"https://legislation.nysenate.gov/api/3/laws/TAX/1350","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"810fc85983960960c69456625f591f4254494fc95988b63a8378933ed04982b3","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-tax-law-1343","next":"us-ny/n.y.-tax-law-1351"},"notice":"GroundRules: Original legal text. Not legal advice."}