People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on ...

New York City may add a tax on luxury second homes over $5 million. Here’s how the proposal works, who it affects, and what wealthy homeowners might do next.

New York City Mayor Zohran Mamdani celebrated a proposal to tax luxury second homes owned by the ultra-wealthy, a plan expected to generate at least $500 million annually. Earlier in the day, New York ...

Doomsayers predicting an exodus of the wealthy from New York City in the wake of Zohran Mamdani's mayoral victory appear to have been wrong as pricey real estate sales are up in the city. Sales of ...

New York City is considering a “pied-à-terre” tax on second homes worth more than $5 million, which is projected to raise ...

New York City’s richest property owners could soon be facing a new tax on their pied-à-terres, New York Gov. Kathy Hochul announced on Tuesday. Hochul has proposed a tax on second homes in New York ...

Redfin Estimate data as of September 11, 2025. Bedroom, bathroom, and square footage data may not be available or accurate. Secondary addresses may not be included. Value estimates may not reflect ...

The proposed tax affects residents who own a secondary property in New York City valued at over $5 million but live elsewhere.

Howard Stern’s Palm Beach estate is one of the crown jewels of his real estate portfolio. According to Realtor.com, he bought the sprawling oceanfront compound in 2013 for about $52 million. The ...