New York City Mayor Zohran Mamdani vowed to tax the rich, including those who own luxury second homes in the Big Apple. Those pied-à-terre tax notices have gone out, and we will not be surprised if a bunch of 'for sale' signs follow.
NYC sending out first pied-à-terre tax notices to owners of luxury second homes https://t.co/etzjI0gnxu pic.twitter.com/XBnDw3FUI8
— New York Post (@nypost) June 30, 2026
The Mamdani administration has unveiled rules for how the city’s new pied-à-terre tax will be enforced — with the first surcharge notices going out in the coming weeks, The Post has learned.
The city Department of Finance will let owners of thousands of luxury secondary residences know they’ve been deemed eligible for the tax by August 30, according to the newly published proposed guidelines.
The DOF has subpoena power and can conduct audits going back six years to determine whether a property should be taxed or exempt.
One-to-3 family homes worth at least $5 million and co-ops and condominiums valued at $1 million or more — that are unoccupied, non-primary residences — would be subject to the surcharge, approved by the state Legislature.
The DOF has subpoena power and can conduct audits going back six years to determine whether a property should be taxed or exempt.
We wonder what Mamdani's family pays on that big Ugandan compound they have.
Wealth to NYC pic.twitter.com/SZj3ZIsUIK
— Agility Dog Mom (@MorkieMamma) June 30, 2026
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It's estimated the city will lose at least $12 billion as the wealthy flee for friendlier cities.
Mamdani finding something someone else owns that hasn’t been taxed yet. pic.twitter.com/BnV5yt2RDf
— AK (@AK20092025) June 30, 2026
When the wealthy leave, these taxes trickle down to lower socioeconomic groups.
Our realtors thank Comrade Mamdani for selling so many homes in Texas & Florida…. https://t.co/vAgyN3HhHR
— Ted Cruz (@tedcruz) June 30, 2026
Business is going to be great for realtors in those states.
Fastest way to destroy a city.
— Jack (@jackunheard) June 30, 2026
Congrats, New Yorkers.
You wanted this. https://t.co/Jp2dhEvQVg
And, by and large, it was upper-class New Yorkers who supported Mamdani. Whoops.
Those people have the means to flee the bad policies they vote for. It's the middle- and lower-class New Yorkers who are left to deal with the fallout of the privileged class voting for socialism.
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