New York · Fortune Technology
Judge orders Mamdani administration to cancel pied-à-terre tax notices and start
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A Staten Island judge on Tuesday threw out New York City’s rollout of its new pied-à-terre tax.
Key facts
- The city had been counting on at least $500 million a year from the surcharge, one of Mamdani’s signature tax-the-rich promises
- In July, about 17,000 owners got notices flagging them as possibly owing the tax
- On Monday, Ross, his wife, Hilary Geary Ross, and casino developer Steve Wynn sued the state over the tax as well
- A Staten Island judge on Tuesday threw out New York City’s rollout of its new pied-à-terre tax
Summary
State Supreme Court Justice Wayne Ozzi ruled that before deciding a property is a second home subject to the tax, the city must review all the information available to it and produce the records backing its claim. “The pied-à-terre surcharge is about a basic principle of fairness: If you can afford a luxury second home in New York City, you can afford to pay your fair share for the schools, streets, and parks that make this city work,” Matt Rauschenbach, a spokesperson for the mayor, told Fortune in a statement. “New York is a city for the many—not a tax haven for the wealthy few,” he continued.