A New York appeals court ruled Wednesday that New York City can move forward with a new tax targeting second homes valued at $5 million or more
By BP Scoop
A New York appeals court ruled Wednesday that New York City can move forward with a new tax targeting second homes valued at $5 million or more, overturning a lower court ruling that had blocked its implementation. The measure, backed by Mayor Zohran Mamdani, is intended to raise additional revenue from wealthy property owners. Opponents argue the tax unfairly targets nonresident homeowners, and additional legal challenges remain pending.
