NYC lines up ‘pied-à-terre tax’ on $5mn+ second homes
State-first measure targeting ultra-wealthy and global elite announced by Mayor Mamdani.
What to read next
New York’s pied-à-terre tax paused after nearly a million properties swept into rollout row
Homeowners launch legal challenge to implementation, arguing City Hall ‘arbitrarily and capriciously foisted onto New York City residents the burden of proving they are not subject to the Surcharge.
Global super-prime markets accelerate while tax drags on London
Just 35 US$10mn-plus sales leave UK capital seventh in Q4 rankings, behind Sydney, Miami & Singapore.
Impact of UK’s non-dom tax reforms ‘highly uncertain’
New analysis envisages population of super-rich non-doms plummeting by a third in most severe case, potentially losing the Treasury up to £900mn a year.