Mamdani Ignites 10 Million-View Backlash Over New York’s $5 Million Pied-à-Terre Tax
Updated
Updated · Fox News · Jul 24
Mamdani Ignites 10 Million-View Backlash Over New York’s $5 Million Pied-à-Terre Tax
2 articles · Updated · Fox News · Jul 24
Summary
More than 10 million views had piled up by Friday after Zohran Mamdani posted a celebratory X message telling owners of New York City second homes worth over $5 million to “check your mailbox.”
The post promoted notification letters for a new pied-à-terre tax backed by Gov. Kathy Hochul, with Mamdani arguing the surcharge will help fund parks, libraries and schools by making wealthy owners “pay our fair share.”
Republican politicians and conservative commentators seized on the message, calling the tax confiscatory and warning it could accelerate an exodus of wealthy residents and hurt jobs tied to luxury properties.
The tax, unveiled jointly by Mamdani and Hochul in April, targets luxury second homes and is expected to raise about $500 million annually from affluent out-of-state property owners.
Critics including Citadel CEO Ken Griffin and Bill Ackman have argued for months that the measure will drive away investment, while Mamdani has pitched the revenue for free childcare, cleaner streets and safer neighborhoods.