President Trump warned that New York’s new pied-a-terre tax, championed by Mayor Zohran Mamdani, could push wealthy residents out of the city, calling on the federal government to intervene. The tax targets owners of second homes in the city, a group Trump argued would simply relocate rather than pay the higher rate.
A judge has since temporarily blocked the tax’s rollout after a group of homeowners argued the program was implemented improperly, dealing an early setback to one of Mamdani’s signature revenue proposals. City officials had planned to use the proceeds to fund affordable housing initiatives.
The ruling is expected to be temporary, with the city likely to appeal as the legal fight over the tax’s structure continues.
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- Judge’s Ruling on Second-Home Tax Deals Temporary Setback to Mamdani
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