"When I ran for mayor, I said I was going to tax the rich. Today, we're taxing the rich. This tax specifically targets the owners of residential properties in New York City worth more than $5 million that they don't live in full time."
"The tax itself is a tax that discriminates against a narrow group of people. Are they going to now have a special tax rate for those that own office buildings who live out of state?"
New York City Mayor Zohran Mamdani announced a new pied-à-terre tax aimed at wealthy property owners who do not reside in their expensive homes full-time. This tax targets properties valued over $5 million, including a penthouse owned by billionaire Kenneth Griffin. Griffin criticized the tax as discriminatory and expressed concerns that it could drive business leaders away from New York City, questioning the future of his company's investment plans in the city. He suggested that Miami could become a more attractive business hub as a result.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]