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Zohran Mamdani introduces pied-a-terre tax; what did New York mayor say on taxing the rich — ‘Will raise $500 million’
- On Tuesday, New York Governor Kathy Hochul proposed a yearly tax surcharge on second homes in New York City worth $5 million or more, targeting non-residents who own residential property in the city.
- Mayor Zohran Kwame Mamdani has long advocated for taxing the ultra-wealthy to address New York City's $5.4 billion budget deficit, hailing the proposal as progress toward balancing the city's budget.
- The governor's office estimates the measure could generate at least $500 million annually to fund essential services. Hochul stated, "Our goal is to get the city on stable ground, to close the gap so we can take the pressure off."
- Republican challenger Bruce Blakeman criticized the proposal as a broken promise, stating, "Unlike Hochul, I'll actually keep my word when I'm governor: I'll cut your taxes and protect the American Dream."
- On Thursday, Utah Republican Senator Mike Lee questioned the proposal's constitutionality, while critics warn that such taxation could discourage economic growth in New York and deter wealthy residents from investing.
24 Articles
24 Articles
Hochul Joins Mamdani in New York’s “Eat the Rich” Movement
Below is an expanded version of my column in the New York Post on the Hochul/Mamdani special fee to be imposed on luxury property owners in New York. The new fee comes on top of property taxes and assessments. It is just one of the wealth taxes that Democrats are pushing in various states — and pushing out wealthy taxpayers and businesses. Here is the column: The hunt is on. New York City Mayor Zohran Mamdani used Tax Day to announce a new fee t…
Zohran Mamdani Ate The Rich :(
BOO! Screengrab, NYC Mayor’s Office on YouTube.New York City Mayor Zohran Mamdani and New York Gov. Kathy Hochul struck terror into the hearts of the ultrawealthy (and the real-estate investment infrastructure that feeds off them) Wednesday, with a joint Tax Day announcement that Mamdani is now making good on his promise to tax the rich in his city, to help make life more affordable for ordinary New Yorkers. Standing across the street from the p…
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