NYC Eyes Pied-à-Terre Tax Targeting Ultra-Rich Buyers
TL;DR Summary
New York City and state officials proposed a pied-à-terre tax on non-primary homes over $5 million, aiming to raise about $500 million a year by tapping properties owned by non-residents or via trusts; the plan would affect high-profile owners including Jeff Bezos and Donald Trump, with critics warning it could drive investment away and details like valuation and residency would be determined later.
- Penthouse pieds-à-terre: Bezos, Trump, and other billionaires facing Mamdani's proposed tax Business Insider
- Zohran Mamdani responds after President Trump rips NYC mayor over tax the rich announcement ABC7 New York
- Mamdani responds to Trump lashing; what mayor said Friday USA Today
- Hochul’s 11th-hour tax pitch angers real estate, encourages legislature to push for more taxes Spectrum News NY1
- ‘He's destroying New York': Trump bashes Mamdani over proposed tax on ultrarich NBC New York
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