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‘We’re taxing the rich’: NYC Mayor Mamdani touts new $500M-a-year tax on luxury second homes

April 16, 2026

New York City Mayor Zohran Mamdani celebrated a proposal to tax luxury second homes owned by the ultra-wealthy, a plan expected to generate at least $500 million annually. Earlier in the day, New York Gov. Kathy Hochul unveiled a pied-à-terre tax on luxury second homes in New York City valued at $5 million or more, allowing the city to impose an annual surcharge on ultra-wealthy nonresidents. The proposal...

FEATURED POST

Nida Khan’s family denies allegations in the TCS Nashik BPO case, claiming she is wrongly portrayed as absconding and an HR head.

Diana Padilla has spent a decade teaching Rio Grande Valley residents how to farm and was set to expand across the rest …