Mamdani hails pied-à-terre tax, sparking online backlash
New York City Mayor Zohran Mamdani celebrated the pied-à-terre tax on second homes worth more than $5 million, drawing online backlash from conservatives who say he’s gloating about tax hikes; the levy, backed by Hochul and Albany Democrats, is expected to raise hundreds of millions for the city, though critics warn it could depress property values as Mamdani pushes for further taxes.