The Second Home Tax: A Symbol of Changing Times in America's Wealthiest Cities The recent introduction of a pied à terre tax in New York City, championed by Mayor Zohran Mamdani and Governor Kathy Hochul, has sparked controversy.
President Donald Trump has led the charge against what he calls a "dangerous political 'experiment'". The tax targets high value second homes in the city, aiming to address the budget crunch facing New York City.
Trump's position on the tax is striking, given his own ownership of a $6 million home in Manhattan's Trump Tower.