Nicole Bononi-Wilson Featured on FOX 5 New York
Nicole Bononi-Wilson, JD, MAFM, Principal – Tax Controversy, recently appeared on FOX 5 New York to discuss the New York Pied-à-Terre Tax and its potential impact on owners of high-value secondary residences.
During the segment, Nicole explains who may be affected by the proposed tax, how it is calculated, and what property owners should do if they receive a notice from a taxing authority. She emphasizes the importance of opening and reviewing all tax notices promptly, responding appropriately with supporting documentation, maintaining proof of mailing, and consulting a qualified tax professional before taking action.
Watch the interview below to hear Nicole’s insights on the New York Pied-à-Terre Tax, property tax compliance, navigating tax notices, and assessments.
Frequently Asked Questions:
Who is affected by the New York Pied-à-Terre Tax?
The tax is generally aimed at certain high-value residential properties that are not used as a primary residence.
How is the Pied-à-Terre Tax calculated?
The tax is based on factors such as a property’s assessed value and applicable thresholds established by legislation.
What should I do if I receive a tax notice?
Open it immediately, review deadlines carefully, gather supporting documentation, and consult a tax professional before responding.
Can I ignore a tax notice?
No. Ignoring notices can lead to missed deadlines, penalties, interest, and other complications.
Why should I work with a tax professional?
A tax professional can help you understand your obligations, evaluate your options, and respond appropriately to notices or assessments.
Have questions about the New York Pied-à-Terre Tax, a property tax assessment, or a tax notice you’ve received?
Contact Nicole Bononi-Wilson and the Prager Metis Tax Controversy team for guidance.
