How Mamdani’s pied-à-terre tax is pushing NYC business leaders to the brink — and may spark a war

NY Post ^ | 7/29/26 | Charles Gasparino

[Libloather]

New York City business leaders aren’t inclined to go to war with Zohran Mamdani – but his latest stunt surrounding the controversial pied-à-terre tax is forcing them to reconsider, On The Money has learned.

This week, our Marxist mayor released the names of taxpayers who are being subjected to his idiotic levy on owners of apartments worth $5 million or more that are not their primary residences.

It’s idiotic partly because these wealthy out-of-state residents don’t use our services, but nevertheless already pay plenty of state and city taxes – the lion’s share in fact. They might decide to buy a place in Boca instead.

It also reeks of the dark and hate-fueled side of Marxist class warfare. Mamdani has created an “enemies list” of rich people he thinks should be paying more taxes. It’s a taste of Lenin and Mao, a public shaming exercise to give his base of DSA loons some red meat while people whose names appear must explain to City Hall why they shouldn’t fall into this vortex.

It’s also dangerous, according to the business people I spoke to who don’t want their names published: When they saw the headlines about “the list,” some instantly thought about Brian Thompson, the United Healthcare CEO who was murdered by a radicalized nut named Luigi Mangione.

Steve Fulop, president of the city’s largest business advocacy group, the Partnership for New York City, has been at his wit’s end dealing with the demonization of business people and upper-income New Yorkers – who pay most of the city taxes here to fund the expansive welfare state Mamdani is constructing.

He’s been trying to engage with the mayor and his people, but with the “enemies list” news, he seemed literally resigned to the fact that this is a City Hall that...

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TOPICS: Business/Economy; Conspiracy; Education; History
KEYWORDS: business; madmani; taxes; war

[Libloather]

Socialist paradise I've been told. Hey, at least the bananas are cheap.

[Libloather]

I went through the pied-à-terre appeals process and this is how ridiculously complicated it is

https://nypost.com/2026/07/29/real-estate/the-pied-a-terre-appeals-process-is-ridiculously-complicated/

[fruser1]

pied-à-terre tax

More like the pied piper tax w/useful idiots following his song to vote for him, only now realizing they are rats to be exterminated.

[Paladin2]

Do we have ManDamni’s Income Statement and Balance Sheet to know where to attack the alleged Commie/Jihadi?

[DoodleBob]

Meanwhile, https://www.newsweek.com/list-celebrities-may-pay-pied-a-terre-tax-new-york-mamdani-12261617

Celebrities Who May Face the Tax

Some of those listed, including actor and activist Cynthia Nixon, who ran for New York governor in 2018, publicly supported Mamdani’s mayoral campaign.

Film, Television & Theater
Alan Cumming
Darren Aronofsky
John Leguizamo
Matthew Modine
Joel Coen
Spike Lee
Woody Allen
Patrick Dempsey
Corey Stoll
Luke Kirby
Ryan Eggold
Jason Schwartzman
Audra McDonald
Adam Pally
Allison Williams

Music
Valerie Simpson
Keith Richards

Fashion
Anna Wintour
Carolina Herrera
Nicole Miller
Humberto Leon
Craig McDean
Mario Sorrenti

Art & Gallerists
Frank Stella
Bruce Nauman
David Zwirner
Robert Gober
Andrea Rosen
Richard Prince
Daniel Arsham
Simone Leigh
Tavares Strachan

Authors & Literary Figures
Calvin Trillin
Min Jin Lee
Bruce Feiler
Nicole Krauss
George Packer
Phillip Lopate

Journalists & Media
Fareed Zakaria
Sarah Ellison
Nikole Hannah-Jones

Politics, Government & Public Service
Anthony Fauci
Bill de Blasio
Chirlane McCray
Jack Lew
Carl Heastie
Cynthia Nixon
David Axelrod

Sports
Derek Jeter
Earl Campbell
Trevor Pryce

Business
Michael Dell
James Dolan
Dwight Merriman
Warren Stephens

[Wally_Kalbacken]

To those of us in the far-flung hinterlands, this is an entertaining circus. It will likely prove to be a better get-out-the-vote program than the GOP was otherwise ready to pursue.

[Brian Griffin]

“Anthony Fauci
Bill de Blasio
...
Cynthia Nixon”

[Brian Griffin]

“Escape from New York”

starring
Zohran Mamdani

co-starring
Kathy Hochul

[Repeal The 17th]

I must have missed the part where the “war” would occur.

[Libloather]

CW11. Gird something.

[thefactor]

The whole thing was a bait and switch. The $5M talking point was total bullshit.

"Any unit (condo or co-op) whose market rate is worth more than $1 million but less than $3 million faces a 4% surcharge."

[T.B. Yoits]

Crocodile tears - the wealthy in New York backed Mamdani.

[Brian Griffin]

https://www.fox5ny.com/news/mamdani-releases-tax-return-reports-145k-income-rap-royalties

Most of the income came from his state assemblyman job.

[Alberta's Child]

I have no sympathy for a business leader that maintains a home in that Third World sh!t-hole.

[Brian Griffin]

“(condo or co-op) whose market rate is worth more than $1 million but less than $3 million faces a 4% surcharge.”

Those are assessed at rental income values.

The effective rate is ~8.% to ~1.3%.

[21twelve]

Back in the day (the 90’s?) congress passed a bill for a capital gains taxes on house sales. But it would only be on the rich people in their mansions. Couples were exempt for $500,000 gains.

Although the congress were no dummies - they didn’t include any offsets for inflation.

[Mr. Lucky]

Ditto.

[Dr. Sivana]

They are picking on Earl Campbell? He’s not poor, but he made his living in the NFL before the salaries went crazy. He also got pounded much more than most in his shortish career, because the Oilers had a crap offensive line and gave Campbell the ball 20 times per game. He is in pain all the time for the rest of his due to that career.

[Paladin2]

Thanks.

How much is he expected to get from his Paris?

[EnderWiggin1970]

The effective rate is ~8.% to ~1.3%.

So that would "only" be $8000-13000 per million dollars - per year, right?