New York City Mayor Zohran Mamdani Advances Proposed Pied-à-Terre Tax
New York City Mayor Zohran Mamdani and Governor Kathy Hochul are pushing forward with a pied-à-terre tax to address budget shortfalls, replacing broader property tax increases. Experts suggest the policy may generate limited revenue compared to optimistic forecasts and have minimal impact on housing supply or affordability.
Topics: budget policy pied-à-terre tax real estate