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New York judge orders city to scrap Mamdani’s pied-à-terre tax rollout
New York Cityâs planned tax on secondary homes was dealt a major setback Tuesday after a Staten Island judge ruled in favor of the plaintiffs challenging the rollout.
The pied-Ã -terre tax, which places a surcharge on non-primary residences in New York City valued over $5 million, as well as co-ops valued at $1 million or more, was rolled out as part of Mayor Zohran Mamdaniâs 2027 fiscal year budget in an attempt to close the cityâs budget gap. Gov. Kathy Hochul had backed the idea.
Mamdani, who took office in January, promised to âgovern as a democratic socialistâ and campaigned on plans to make the city more affordable and improve New Yorkersâ daily lives. In his first few months in office, he delivered a rent freeze for tenants in rent-stabilized apartments across the city.
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