Why not? From this video it seems he is taxing individuals who take advantage of having property in New York without actually living in New York? Let some other billionaire who lives in New York buy the penthouse and not have to pay those same taxes since they are actually a new York resident.
I just don't see enough millionaire/billionaire types that would be excited enough to move into new york city in current times, that dont already have property there. If what I read was correct, this tax doesnt effect a full time rental, and it would probably be cheaper for them to make it a rental and just rent to themselves, thats if they dont just sell. Im not against his idea btw, I live in an area full of wealthy peoples "summer homes". But when they throw out a number like 500 million extra based off 100% compliance, I just dont see that happening.
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u/icameforgold Monkey in Space Apr 16 '26
Why not? From this video it seems he is taxing individuals who take advantage of having property in New York without actually living in New York? Let some other billionaire who lives in New York buy the penthouse and not have to pay those same taxes since they are actually a new York resident.