""When I ran for mayor, I said I was going to tax the rich. Well, today, we're taxing the rich," Mamdani said in a video posted on X."
""This is a fundamentally unfair system that hurts working New Yorkers. Now, it's coming to an end," Mamdani stated."
""As mayor, I believe everyone has a role to play in contributing to our city, and some a little bit more than others," he added."
""The tax would ensure that those that own luxury homes, but do not live in the City or pay City income tax are still fairly contributing towards the funding of the essential services like policing and parks that make New York City a great place to live," Hochul explained."
New York City Mayor Zohran Mamdani supports a new tax on luxury second homes owned by nonresidents, projected to raise at least $500 million annually. Governor Kathy Hochul introduced the pied-à-terre tax targeting properties valued at $5 million or more. Mamdani emphasized the tax's fairness, stating it addresses the needs of working New Yorkers. Revenue will fund essential services like childcare and neighborhood safety. The tax aims to ensure wealthy property owners contribute to the city's infrastructure despite not residing there.
Read at Fox News
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