Is Providence Mayor Brett Smiley’s condo in Manhattan subject to the new “pied-à-terre” tax in NYC?

Providence Mayor Brett Smiley’s condo in Manhattan is not subject to a new “pied-à-terre” tax in New York City. 

The program to “tax the rich” applies to one- to three-family homes valued over $5 million, or condominiums and co-ops valued over $1 million, with owners who have a separate primary residence.

Smiley and his husband purchased their condo in 2015 for $950,000. The couple does not appear on the list of property owners subject to the tax.

The new tax is based on assessments made by NYC’s Department of Finance, not what the units will sell for in the actual market. Smiley’s condo was last assessed with a value of $134,256.

Smiley’s multiple homes became a flash point in local debates over the cost of housing in Providence. Two weeks after losing a bid for re-election, Smiley began renting out his guest house for $5,500 a month.