New York Millionaires Criticize City's 'Target List' of Potential Tax Surcharge Recipients
The New York Department of Finance has published a list identifying property owners who may be subject to the city’s new pied-à-terre tax, which targets second homes and non-primary residences. The data includes names and addresses and is available as downloadable files for public access through the end of the year. Critics argue that the list casts too wide a net, potentially doxxing many individuals who may not ultimately owe any additional taxes. The release has drawn backlash from wealthy residents, including crypto executives like Uniswap founder Hayden Adams and Helius CEO Mert Mumtaz, who described it as an overreach of privacy. The data is sourced from city and federal tax records and includes properties in high-end areas popular among cryptocurrency investors. City officials have also begun mailing notices to affected property owners and offering a way to contest the surcharge if applicable. The pied-à-terre tax aims to address concerns about underutilized luxury real estate, particularly in Manhattan where crypto wealth has driven demand for second homes. However, opponents argue that the approach is overly broad and risks alienating high-net-worth individuals who contribute significantly to New York’s economy.
Topics: local_government privacy_concerns public_records real_estate