The tax, which will be implemented in stages, is anticipated to bring in $500 million, although revenue estimates are complicated by New York's arcane property tax system that, per The New York Times, undervalues high-end real estate.
Zohran Mamdani: “The tax, which will be implemented in stages, is anticipated to bring in $500 million, although revenue estimates are…”
Editor's note · Context
Discussing the new pied-à-terre tax on second homes.
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In solidarity with immigrant New Yorkers and in our shared commitment to the City we love, we ask that you do not rent, lend, or otherwise make your property available to ICE as a staging area for its enforcement operations.
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