New York Democratic Gov. Kathy Hochul unveiled a new tax policy targeting the second homes of her constituents as residents of the Empire State are already fleeing elsewhere.
The newproposalis meant to close the budget gap created by New York City Democratic Mayor Zohran Mamdani and his social programs.
The so-called “pied-à-terre tax” would be “an annual surcharge on residential properties in New York City that are not occupied as a primary residence” if the value is $5 million or more.
The levy would ensure “those that own luxury homes, but do not live in the City or pay City income tax are still fairly contributing” to the Big Apple’s coffers.
Gov. Kathy Hochul (D) complains that wealthy people are ABANDONING New York for Republican states like Florida and Texas to avoid oppressive taxes that fund her “generous” social programs
She’s PISSED they are no longer “captives” in her state.pic.twitter.com/FRgdpF1ey0
— Libs of TikTok (@libsoftiktok)March 18, 2026
Beyond not applying to primary residences, the tax would not be imposed if the properties are “not rented to a primary resident or occupied by the owner’s family.”
“If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker,” Hochul said.
The policy is aimed at “non-New York City residents” and is seeking to avoid new taxes for “every day New Yorkers.”
Source: VidNews » Feed
