Trump targets NYC's tax on $5 million-plus second homes
What's new: His move came after a judge briefly blocked the levy, but the city sought an appeal that paused that order.
President Donald Trump moved to challenge New York City's new pied-a-terre tax, calling the levy on luxury second homes a threat to the city and raising the prospect of federal action. The tax, backed by Mayor Zohran Mamdani and passed by the New York State Legislature in late May, applies to nonprimary residences worth more than $5 million.
Trump's intervention followed a Staten Island judge's temporary block on the policy Monday. City Hall quickly moved to appeal, putting that order on hold while the legal fight continues. Mamdani has defended the surcharge as a way to fund safer streets and stronger schools. The dispute has also drawn opposition from wealthy property owners and business leaders, who argue it could push investment out of New York City.