NYC's plan to tax luxury second homes, explained
Parlament
New York City Mayor Zohran Mamdani is following through on one of his most divisive campaign promises: tax the rich. Mamdani and Gov. Kathy Hochul introduced a new pied-à-terre tax proposal on Wednesday. The tax, which requires legislative approval, would affect residents who own a secondary property in New York City valued at over $5 million but live elsewhere. It's the first of its kind for New York state. The proposal drew swift ire from some members of the upper echelon , including
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