tax
The Big Apple is getting more unequal: A new report from New York City Comptroller Mark Levine found that income inequality worsened in the city from 2019 to 2024.That’s not entirely unexpected. The country’s financial capital has long had a wealth gap between its Wall Street bigwigs and everyday workers,…
Among New York City’s wealthiest homeowners, the stages of grief over the city’s hotly contested “pied-à-terre tax” go something like this: First, anger at the chaotic rollout. Then denial, as they pepper lawyers and tax advisors with various versions of “How can they do this?” Bargaining follows, as they hunt…
New York City homeowners say they’re confused by Mayor Zohran Mamdani’s rollout of the pied-à-terre tax — and they’re joining City Council on Tuesday to testify.The Mayor’s Office opted to forgo an in-person appearance at the hearing, instead submitting a written memo. In a copy obtained by Business Insider, Mamdani’s…
Wealthy homeowners who might be subject to New York City Mayor Zohran Mamdani’s pied-à-terre tax just got more time to avoid it.Mamdani and Department of Finance Commissioner Richard Lee announced on Saturday that the deadline for homeowners to submit an exemption application has been extended to September 18. That’s four…
