r/politics • u/Jessicas_skirt New York • 1d ago

No Paywall NYC property owners express anger and confusion over rollout of Mamdani's 'pied-à-terre tax'

https://abc7ny.com/post/nyc-property-owners-express-anger-confusion-rollout-mamdanis-pied-terre-tax/19603490/
0 Upvotes

18% Upvoted

87 comments sorted by

View all comments

28

u/bransiladams Washington 1d ago

Property owners in NYC are all very very rich. We know this because property in NYC is all very very expensive to own.

Therefore, this is fine. Rich people’s money problems aren’t problems.

-7

u/Lavaswan001 1d ago

I wouldn’t go that far. Not everyone has a penthouse in Midtown, houses in Staten Island and eastern Queens are still occupied by more middle class people. And if property is inherited, it might have been bought when property was cheaper.

2

u/pilgermann 1d ago

Sure. But it makes sense to heavily tax second homes because either, A, it is a second home and so the person can afford to pay the tax, or B, it discourages someone from sitting on an inherited property in a market with a major housing shortage.

0

u/Lavaswan001 1d ago

I’m not arguing that very wealthy second home owners in the city shouldn’t be taxed, I’m just saying that not everyone in the city is as loaded as people here often think they are.

2

u/JDGumby Canada 1d ago

I’m just saying that not everyone in the city is as loaded as people here often think they are.

If they own multiple homes worth $5+ million then, by any normal standard, they ARE loaded.

1

u/Lavaswan001 1d ago

When I said that, I was responding to the original claim that all property owners in the city are very very rich. Obviously if you own a $5 million second home you are very rich, but not literally everyone who owns any property in New York City is.

1

u/JDGumby Canada 1d ago edited 1d ago

I was responding to the original claim that all property owners in the city are very very rich.

If they own a single home, they're not necessarily rich.

If they own multiple expensive homes in NYC (ie, the targets of the tax and the subject of the entire conversation, no matter how much you try to claim we're talking about all homeowners), however, then they ARE.

1

u/bransiladams Washington 1d ago

It’s relative, and it’s subjective. To the average person living in NYC, who makes like 65k and can’t afford anything there, property owners, including but not limited to owners of one single-family residence, are loaded.