Austin Federa | 🇺🇸(@Austin_Federa):Here’s the thing: second homes worth $5 million or above are the best thing that ever happened to the New York City budget. I think about it: they are usually condo buyers which are taxed higher and they don’t use anywhere near as many city services because they are not here often and certainly not the public school system. Plus they employ a ton of service workers.

2026.07.23 22:50

Here’s the thing: second homes worth $5 million or above are the best thing that ever happened to the New York City budget. I think about it: they are usually condo buyers which are taxed higher and they don’t use anywhere near as many city services because they are not here often and certainly not the public school system. Plus they employ a ton of service workers.

Mayor Zohran Kwame Mamdani@NYCMayor

2026.07.23 19:55

If you have a second home in New York City worth more than $5M, check your mailbox when you’re back in the five boroughs — because you've got mail. Today, we sent notification letters to property owners, letting them know that our new pied-à-terre tax is coming soon. The best city in the world deserves the best parks, libraries, and schools in the world. That's only possible when we all pay our fair share.