New York Gov. Kathy Hochul announced a handshake budget deal this week that includes a controversial pied-à-terre tax on second homes in New York City.

The move reflects an increasingly popular tactic for lawmakers facing affordability crises that are squeezing constituents while blowing holes in state budgets. Rather than taxing the rich directly through higher income or corporate taxes, they’re taking aim at one of their most visible symbols of wealth—the second home.

But how and where these taxes are levied is another story entirely. There are at least four mechanisms for second-home taxes, and active or proposed versions exist in at least eight states. To read the full story click on the following link. https://www.realtor.com/news/trends/cities-states-with-pied-a-terre-second-home-tax/