Hochul’s Millionaire Second-Home Tax Aims to Close NYC Budget Gap
TL;DR Summary
Gov. Kathy Hochul proposes a tax on New York City second homes valued at $5 million or more to help close the city’s budget gap, targeting ultrawealthy non-residents and reflecting a shift in political climate after earlier industry opposition.
- What Is the Pied-à-Terre Tax? 5 Things to Know About Hochul’s Proposal. The New York Times
- The Pied-à-Terre Tax Has Failed Before. Could This Year Be Different? The New York Times
- New York governor pitches a new tax on pricey pied-à-terres AP News
- Kathy Hochul has become Zohran Mamdani’s most important ally Politico
- Hochul tax plan targets high-end second homes amid revenue pressures Fox Business
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