NYC Mayor Zohran Mamdani's pied-à-terre tax just got a big win in court
Source: Business Insider ·
A New York court cleared Zohran Mamdani's pied-à-terre tax surcharge on luxury second homes over $5 million. Yet, the legal fight is not over.
From the source
New York City Mayor Zohran Mamdani.Andres Kudacki/Getty ImagesThe tax on second homes worth over $5 million was challenged by a lawsuit from NYC homeowners.The Appellate Division of the New York Supreme Court ruled in favor of the city's pied-à-terre tax.The tax still faces another pending lawsuit in December challenging its constitutionality.NYC Mayor Zohran Mamdani just secured a big win — and those with luxury second homes in the Big Apple might have to pay up soon.On Wednesday, the Appellate Division of the New York Supreme Court ruled that the City could roll out its pied-à-terre surcharge. This comes after the tax hit a roadblock in September, after a Staten Island judge ruled in favor of NYC homeowners who sued over the rollout of the tax. The ruling indicated that the implementation of the tax — which targets second homes worth over $5 million — needed to be redone after causing confusion and the revelation of personal information. The same night, the city invoked a stay,…
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