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Super-rich complain but experts welcome Mamdani’s pied-à-terre tax

New York City is rolling out a new pied-à-terre tax aimed at wealthy property owners, designed to generate $500 million annually for housing needs. While critics claim it infringes on privacy and may deter businesses, supporters argue it's...

The Guardian· Aug 8, 2026 · 2:19 PM · 31 views

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New York City is rolling out a new pied-à-terre tax aimed at wealthy property owners, designed to generate $500 million annually for housing needs. While critics claim it infringes on privacy and may deter businesses, supporters argue it's a necessary step to tackle the housing crisis.

Full story and more reels: https://newsreel.video #news #breaking #NewYork #housingcrisis #taxation

Originally reported by The Guardian. Read the full story →

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