Luxury Broker Says Clients Moving From NYC to Miami Due to Mamdani's Tax Plan

Mamdani's latest tax pledge 'makes no sense' and will only exacerbate Florida 'exodus': former mayor

Republican congressional candidate Scott Singer says NYC Mayor Mamdani's socialist tax policies will drive more capital and residents out of the city and into Florida.

Luxury broker says clients moving from NYC to Miami due to Mamdani's tax plan

Ultra-wealthy business owners say they are considering leaving the city because of Mamdani’s proposed pied-à-terre tax.

NEW: NYC Mayor Targets Billionaires With Controversial Pied-à-Terre Tax

The proposal for a pied-à-terre tax by New York City Mayor Zohran Mamdani has ignited considerable debate over property taxes and their implications for the ultra-wealthy. This plan specifically targets second homes owned by those with substantial financial resources, particularly properties valued at over $5 million. Mamdani aims to create a more equitable tax system, addressing perceived injustices that allow wealthy individuals to benefit dis…

A Pied-à-Terre Tax Must Be Designed to Actually Raise Revenue for New York

New York City is constantly searching for new, sustainable ways to fund essential services—from schools and housing to transit and public safety—without placing additional burdens on the average resident.  That is the stated goal behind the proposal to impose a pied-à-terre tax on second homes valued above $5 million in New York City. However, good intentions are not enough. If this tax is not designed carefully and realistically, it risks rais…