Inside R&E Podcast — New York City’s Pied-à-Terre Surcharge

NOTE: On July 14, 2026, the New York City Department of Finance published its final rules on the Pied-à-Terre Surcharge. Click here to read more.

In this episode of Inside R&E, Benjamin M. Williams, a Member and Head of R&E’s Property Tax Department, invites Martha Stark, Policy Director and data analyst for Tax Equity Now New York; Clinical Professor of Public Service and Director of Management Specialization at NYU Wagner; and former Finance Commissioner of New York City, for a conversation on New York City’s new annual Pied-à-Terre Surcharge.

In this insightful conversation, Ben and Martha discuss the newly enacted Pied-à-Terre Surcharge, what it means for property owners, co-ops and condominiums, and the challenges it may present. They examine how the legislation was enacted, the need for greater transparency, how assessments may be conducted and potential changes to the regulations. Drawing on Martha’s experience as New York City’s former Finance Commissioner and Ben’s expertise as an appraiser, they break down the practical implications of the tax, explore possible reforms and discuss what it could mean for the future of New York real estate.

Ben’s practice focuses on property tax reductions and planning. He has represented thousands of clients in property tax appeals and at New York City Tax Commission hearings. He also has a depth of experience in real estate tax projections for development, acquisition, leasing, financing and budgeting. Ben’s forte is reducing property taxes for co-ops and condos, multifamily residential, office and retail properties. He has worked on Industrial and Commercial Abatement Program (ICAP), ICIP, 421-a, 485-x, 467-m, J-51, Not-For-Profit and Childcare Center exemption and abatement applications and projections.

Martha Stark is the only person in the New York City area practicing property tax law who has also served as Commissioner of the New York City Department of Finance. She was also responsible for overseeing the administration of the commercial rent, corporate, unincorporated business, mortgage recording and real property transfer taxes. Martha also serves as the Policy Director and data analyst for Tax Equity Now New York, the organization that recently filed a lawsuit challenging the New York City property tax structure. She has also served as a consultant for the Real Estate Board of New York, the Rent Stabilization Association and the New York University Furman Center.

For any questions related to this episode, contact Benjamin M. Williams at [email protected] or (212) 551-1246. Martha Stark’s Second Home Surcharge Tool is available on her website.

Stream the full episode, now available on Apple Podcasts, Spotify and YouTube.