Trump Courts Federal Action Against NYC's Pied-à-Terre Tax

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Source: CNBC
Trump Courts Federal Action Against NYC's Pied-à-Terre Tax
Photo: CNBC
TL;DR

President Donald Trump attacked New York City's pied-à-terre tax on nonprimary residences and said he is exploring whether the federal government has the authority to block it, as a judge briefly blocked the policy and the city moves to appeal. The tax—backed by Mayor Mamdani and Governor Hochul—aims to raise revenue by taxing second homes worth $1 million and up, but critics warn it could drive wealthy residents away while supporters argue it funds safety and schools.

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