New York City may add a tax on luxury second homes over $5 million. Here’s how the proposal works, who it affects, and what wealthy homeowners might do next.

New York state lawmakers are expected to place a new tax on luxury second homes in New York City, appeasing Mayor Zohran ...

New York City Mayor Zohran Mamdani appears to have won his first significant concession from Gov. Kathy Hochul in the escalating fight over how to close the city's budget gap. Hochul has decided to ...

Zohran Mamdani said the measure is targeted at luxury secondary homes in New York City valued at $5 million or more that are ...

Syracuse, N.Y. – Gov. Kathy Hochul and New York City Mayor Zohran Mamdani are backing a proposal to impose a tax surcharge on ...

New York City Mayor Zohran Mamdani celebrated a proposal to tax luxury second homes owned by the ultra-wealthy, a plan expected to generate at least $500 million annually. Earlier in the day, New York ...

Doomsayers predicting an exodus of the wealthy from New York City in the wake of Zohran Mamdani's mayoral victory appear to have been wrong as pricey real estate sales are up in the city. Sales of ...

Gov. Kathy Hochul is supporting a proposal to tax wealthy New Yorkers who own a second home outside NYC worth more than $5 million.

New York City’s richest property owners could soon be facing a new tax on their pied-à-terres, New York Gov. Kathy Hochul announced on Tuesday. Hochul has proposed a tax on second homes in New York ...