Gov. Kathy Hochul (D-NY) proposed on Tuesday a new tax on wealthy earners who own second homes in New York City that are worth $5 million or more. The move is intended to address the city’s estimated $5.

New York Gov. Kathy Hochul (D) and New York City Mayor Zohran Mamdani (D) have proposed a new tax on property owners who have second homes in New York City worth more than $5 million, in an effort to narrow the city’s budget deficit by targeting the ultrawealthy.

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

The City Council released a $127 billion alternative budget plan Wednesday that doesn’t raise property taxes, dip into reserves or cut services to make ends meet — a slap-down for Mayor Zohran Mamdani.

A new program managed by the city will reduce the cost of property and liability insurance for affordable and rent-stabilized housing.

New York policymakers push higher taxes on wealthy nonresident homeowners, intensifying the debate over revenue, housing and economic competitiveness.

The head of an influential Big Apple business advocacy group warned that companies are already taking steps to relocate or move jobs elsewhere because of Mayor Zohran Mamdani’s tax-hike crusade. Steve Fulop,

At a Tax Day event in Las Vegas, President Trump stated that New York City Mayor Zohran Mamdani's tax policies "are no good."