Judge pauses New York pied-a-terre tax in blow to Mamdani

A judge on Monday blocked New York City Mayor Zohran Mamdani from imposing a new tax on around 1 million residents, who he said own second homes.

Mamdani worked with Gov. Kathy Hochul (D-NY) to implement the pied-à-terre surcharge after he was sworn into office as the city’s first socialist mayor, publishing a list containing the names and addresses of over 960,000 homeowners his office said could face the non-primary-residence tax. The tax, which advocates hope will generate $500 million in annual revenue, applies to houses worth more than $5 million, with rates ranging from 0.8% to 1.3%. It also applies to condominiums and co-ops worth more than $1 million, which are taxed at rates ranging from 4% to 6.5%.