Free Republic

Mayor Mamdani with fanfare released a list of 960,000 owners of real estate in New York City that have been determined they could owe the pied a terre tax because NYC computers have determined they own what was billed as a market value of $5 million or more. Now there are only about 1 million residential tax lots in New York City so the first question is how did virtually every owner get put on the list?The answer is that you are subject to the tax in the first two years if your property has a “DOF valuation” of over...

Key PointsState lawmakers passed a tax on nonprimary residences in New York City in order to help close the city's budget gap.The so-called pied-a-terre tax will be imposed on second homes valued at $1 million or more and will take effect in two different phases. Billionaire and Citadel CEO Ken Griffin became the face of the tax after New York City Mayor Zohran Mamdani posted a video in front of Griffin's penthouse apartment announcing the tax.New York City's new tax on second homes will more than double property taxes owed by many wealthy luxury apartment owners, according to tax experts.State...

Independent journalist and researcher Charles Johnson recently visited Newark, N.J. to see if he could find out if Mayor Cory Booker actually lives in the city he governs. Independent journalist and researcher Charles Johnson recently visited Newark, N.J. to see if he could find out if Mayor Cory Booker actually lives in the city he governs.