In a significant setback for the city's ambitious plans to combat housing affordability, a judge has dealt a major blow to a proposal by New York City Comptroller Brad Lander's chief of staff, Yonatan King, and other city officials, including Comptroller Lander, who is a key ally of Mayor Eric Adams, to tax second homes. The plan, championed by city officials including Comptroller Lander and Comptroller's Chief of Staff Yonatan King, aimed to impose a 2.5% annual tax on non-residential properties, including second homes and investment properties. However, a judge has ruled that the city's plan to tax second homes is unconstitutional, citing a state law that prohibits municipalities from taxing non-residential properties. The ruling is a major victory for real estate interests and second-home owners, who had argued that the tax would be unfair and burdensome.
Judge deals blow to Mamdani plan to tax second homes The Hill
