What to Know About Mamdani’s Second-Home Tax That Trump Says ‘Must Be Stopped’

Zohran Mamdani’s cornerstone tax on New York City’s high-value second homes is facing backlash—including from President Donald Trump, who wants to thwart what he deems the mayor’s “dangerous political ‘experiment.’”“The NYC Pied-a-Terre Tax is costing New York City and State a fortune in that the money, eventually to be gotten, is very little compared to to [sic] the TAXES PAID by the tens of thousands of people who are fleeing the City, never to return,” Trump posted on Truth Social on Tuesday morning.Trump argued that the tax, which took effect last month, could encourage wealthy property owners and taxpayers to leave for places like Florida where taxes are lower. The tax may affect him too: Trump is a born-and-raised New Yorker whose legal primary residence is in Mar-a-Lago, Fla., but he also owns a second home in Trump Tower in Manhattan, which city authorities have assigned a market value of about $6 million (though it could sell for tens of millions more based on valuation estimates).“This dangerous political ‘experiment’ in New York will destroy what was once a great City and State,” Trump said, adding: “This doesn’t work in America, and must be stopped, NOW!” The President ...