Taxing the Taxis: The High Stakes of NYC's Luxury Home Levy New York City's budget woes have become a familiar refrain in recent years.
Mayor Zohran Mamdani's proposed tax on luxury second homes, dubbed the "pied à terre" levy, has stirred up opposition from Wall Street heavyweights and business leaders who claim it will drive away the wealthy residents and companies the city needs.
The Partnership for New York City, a group that champions big business interests in Gotham, is leading the charge against the tax.