TAX ALERTS

The deadline for filing the New York City Pied-à-Terre Surcharge request for exemption is extended to October 6th. For additional information visit: https://www.nyc.gov/site/finance/property/non-primary-residence-surcharge.page and/or contact the SAX SALT team.  

Executive Summary New Jersey’s FY2027 budget package includes several tax and fee changes that may affect 2026 estimated payments, employer compliance obligations, individual income tax planning, and data broker registration fees. Clients should review exposure now, particularly when provisions apply retroactively or create new near-term filing and payment deadlines as noted below. Most affected taxpayers:…

The New York City Department of Finance (the “Department”) has released a pied-à-terre surcharge exemption application (the “application”). Residential Homes and Condominiums Application Filing Deadline – August 21, 2026 File the application here. Cooperative Units Application Filing Deadline – August 24, 2026 File the application here. A property qualifies for an exemption from the pied-à-terre…

Overview of Proposed Florida Property Tax Changes  Florida lawmakers have advanced a major property tax reform initiative that would materially expand the homestead exemption for primary residences. The proposal, titled the “Save Our Homes from Excessive Property Taxes” initiative and commonly referred to as Amendment 3 for the 2026 ballot, would phase in larger non-school…

In 2024, OMB revised the Uniform Guidance with the goal of reducing administrative burden for federal funding recipients. The latest proposal takes a different approach.  On May 29, 2026, OMB issued proposed revisions to the regulations governing federal financial assistance that would increase federal oversight, expand agency enforcement authority, introduce new compliance obligations, and provide…

Overview New York State has enacted a new pied-à-terre tax (surcharge) on certain high-value New York City homes (“covered properties”) NOT used as a primary residence. “Covered properties” include Class 1 homes (one-, two-, and three-family homes) and Class 2 homes (residential condominiums and cooperatives (co-ops)). The surcharge takes effect on July 1, 2026. It…