NYC second-home tax rollout sparks backlash over public property list
Why it matters: The city expects the levy to raise $500 million a year, but a lawsuit and council criticism could complicate enforcement.
New York City’s rollout of a new tax on luxury second homes drew sharp criticism at a City Council oversight hearing after the administration published a list of nearly 1 million properties and owners’ names. Mayor Zohran Mamdani’s pied-a-terre tax applies to second homes worth more than $5 million, or condos and co-ops worth more than $1 million, and the city later sent notices to 17,000 people. Critics, including Council Member Kamillah Hanks, argued the list created security and privacy risks. Supporters said owners of high-value part-time residences should help fund city services. Mamdani has defended the measure as a way to raise about $500 million annually in a city with wide income gaps. A group of homeowners has sued to force the city to remove the list.