Among New York City’s wealthiest homeowners, the stages of grief over the city’s hotly contested “pied-à-terre tax” go something like this: First, anger at the chaotic rollout. Then denial, as they pepper lawyers and tax advisors with various versions of “How can they do this?” Bargaining follows, as they hunt for loopholes or long-forgotten documents to plead their cases.
Some can afford to jump straight to the final stage: acceptance. The uber-elite may brush off the new tax, levied on second homes worth at least $5 million, as merely another line item tacked onto their vast portfolios. For most others, however, coming to terms with Mayor…
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