No. A primary New York City resident who owns an additional  property meeting the criteria in the city will owe the surcharge on the secondary property because it is not their primary home.

Occasional or part-time use by the owner does not exempt the property. To avoid the tax, the unit must serve as the primary residence.

The property is exempt if it serves as the primary residence of an immediate family member, defined as a spouse, child, sibling, parent, grandparent, or grandchild.

It is exempt if rented out under a bona fide, arm’s-length lease or sublease at a minimum of one year to a tenant who uses it as their primary residence.

The property can be exempt if the individuals who hold a majority interest use the unit as their primary residence.

The primary residency status applies if at least one of the co-owners uses the unit as their primary home, or if it meets another qualifying occupancy exemption.

The owner must file a surcharge exemption application.

Under the tax rules, both co-ops and condos with a market value over $1 million are treated similarly regarding thresholds and exemptions during . However, co-ops face structural risks: if a shareholder fails to pay the surcharge, the NYC Department of Finance can place a lien on the building, making the co-op corporation responsible.

The pied-à-terre tax is an annual recurring property tax surcharge rather than a transactional transfer tax. Liability runs with the current owner of record for the given tax fiscal year, though unpaid amounts turn into municipal liens that affect closing.

Owners should keep records proving residency such as income tax, drivers license, voter registration, utility bill, lease agreement.