Administrative Fix Prevails

The most likely path is that New York treats the judge's ruling as a procedural setback rather than a fatal blow to the pied-à-terre tax. The Department of Taxation and Finance and local assessors rebuild the list with clearer residency and ownership criteria, delaying collections but preserving the statute.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.