New York to tax luxury second homes in NYC but stops short of hiking income taxes on the wealthy

May 7, 2026 - 18:00
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New York to tax luxury second homes in NYC but stops short of hiking income taxes on the wealthy
People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement - an initiative to appease Mayor Zohran Mamdani and liberal voters who launched him into office with chants of "tax the rich."

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