The short answer is no — at least not yet. The pied-à-terre tax Governor Hochul announced on April 15, 2026, is a New York City–only surcharge on second homes valued at $5 million or more. Long Island properties, including the Hamptons, are not in the legislation's scope. Here's the full picture, with the bill text.
On April 15, 2026, Governor Kathy Hochul announced a pied-à-terre tax proposal to help close New York City's budget gap. The bill (Senate Bill S44B in the most recent draft) authorizes New York City to impose an additional tax on:
The surcharge ranges from 0.5% to 4% on residences and 10% to 13.5% on condos/co-ops, on the value above the threshold. The Governor's office estimates revenue of about $500 million annually from roughly 11,200–13,000 properties.
The bill exempts:
Three reasons the East End is anxious:
Theoretically, yes — but each county would need:
Nassau County Executive Bruce Blakeman has touted four consecutive county budgets with no property tax increase. A new tax targeting second homes would clash with that brand. Suffolk's East End towns rely heavily on second-home property tax revenue already — Southampton, East Hampton, Southold, Shelter Island, and Riverhead have all pierced the NY 2% tax cap in recent years because their second-home tax base is so deep. Adding a surcharge on top would face vocal opposition.
That said: New York City passing the pied-à-terre tax in 2026 would lower the political cost of doing the same elsewhere. We'll watch this and update this page if Albany takes up an LI version. Subscribe to be notified.
The proposal is being negotiated as part of the FY 2027 state budget. Key milestones:
The earliest bills could be issued is November 2026, per the Comptroller's timeline.
No. The pied-à-terre tax authorizes a surcharge on properties in New York City valued above $5M. Long Island and East End properties are not within the taxing jurisdiction of this proposal.
If your Hamptons house is your primary residence and your NYC condo is a second home, your NYC condo would be in scope of the surcharge (subject to value thresholds). You'd need to attest to primary residence status when the NYC Department of Finance sends communications, which the Comptroller's analysis estimates would start late 2026.
No. Your LI bill is set by your school district, town, county, and special districts. The pied-à-terre proposal does not change any of those rates and does not apply to LI parcels.
It would require separate Albany legislation specifically authorizing Suffolk County or a particular East End town to impose the tax. As of May 2026, no such bill has been introduced. Local political support would be needed, and the East End hospitality and real-estate industries would likely oppose it.
Only for the NYC version, and only if you own NYC property too. The NYC bill exempts NYC units rented to NYC primary residents. Hamptons short-term rentals to NYC residents have no effect on the proposed tax mechanism.
The mansion tax (1% of sale price for sales above $1M, with brackets up to 4.15% for very expensive properties) is a transfer tax paid at closing. The pied-à-terre is an annual surcharge on top of regular property tax, paid every year you own. Different timing, different mechanism, different scope.
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Estimates and educational content only — not legal, tax, or financial advice. Verify with your county or town receiver, an attorney, or a CPA before making financial decisions.