politics
Trump says NYC pied-à-terre tax 'must be stopped,' eyes federal block
Trump in a Truth Social post called Mamdani's pied-à-terre tax a "dangerous political 'experiment' in New York will destroy" the city and state.
TL;DR
- President Donald Trump is calling for federal intervention to stop New York City's pied-à-terre tax.
- Trump described the tax on nonprimary residences of wealthy owners as a "disaster" and a "dangerous political 'experiment'."
- A Staten Island judge temporarily blocked the tax, but the city has filed a motion to appeal the order.
- Mayor Zohran Mamdani is confident in the tax's legality and its importance for funding city services like safer streets and stronger schools.
- The pied-à-terre tax targets second properties valued at $1 million or more, with higher rates for more valuable residences.
- The tax is expected to raise significant revenue, though estimates vary, and it is facing legal challenges from NYC residents.