- Trump on Tuesday decried the NYC pied-à-terre tax and said he is exploring whether the federal government "has any legal right to avert this disaster, before it is too late."
- Trump wrote that the tax on nonprimary residences of wealthy owners "doesn't work in America, and must be stopped, NOW!"
- Trump's vow to seek federal intervention came one day after a Staten Island judge temporarily blocked the new policy, which was pushed by Mayor and passed by the New York State legislature in late May.
- The New York City government quickly filed a motion to seek an appeal of that order, placing the judge's order on hold.
- The pied-à-terre tax backed by Mamdani and New York Gov. Kathy Hochul would raise taxes on second properties valued at $1 million or more, with more valuable residences facing higher rates.
- The mayor's office referred CNBC to Mamdani's assurance that "we look forward to vigorously defend our city's position in court," and Mamdani said, "We are confident in our position..."
- Trump called the tax a "dangerous political 'experiment' in New York will destroy what was once a great City and State," and added that it's hard for him as president "to sit back and watch it happen, especially to a place I once loved."
- Trump is a native New Yorker who lived in a penthouse in Manhattan's Trump Tower, but moved his primary residence to his Mar-a-Lago golf club in Florida in 2019.
Former President Donald Trump has voiced strong opposition to New York City's proposed pied-à-terre tax, which targets wealthy owners of nonprimary residences. In a recent statement, he described the tax as a "dangerous political 'experiment'" that could "destroy what was once a great City and State."1258910
The tax, which was passed by the New York State legislature in late May and supported by Mayor Eric Adams and Governor Kathy Hochul, aims to impose surcharges on second properties valued at $1 million or more. Higher rates would apply to more valuable residences. Trump, a native New Yorker, expressed his concern over the tax's implications, stating, "It's hard for me as president to sit back and watch it happen, especially to a place I once loved."3
Following a Staten Island judge's temporary block of the tax, the New York City government quickly filed a motion to appeal, putting the judge's order on hold. The mayor's office has expressed confidence in defending the city's position in court, with spokesperson Mamdani stating, "We look forward to vigorously defend our city's position in court." He emphasized the importance of the surcharge for funding safer streets and stronger schools.4
Trump is now exploring whether the federal government has any legal means to intervene against the tax, asserting that it "doesn't work in America, and must be stopped, NOW!"
“The tax, backed by Mayor Mamdani and Gov. Kathy Hochul, would raise taxes on second properties valued at $1 million or more. New York City has filed a motion to appeal the judge's order, placing it on hold, while Mamdani vows to 'vigorously defend our city's position in court.'”
CNBC
