New York Governor Seeks to Tackle Wealthy Tax Dodgers with Pied-à-Terre Levy. In a bid to address the state's growing budget deficit, New York Governor Kathy Hochul has proposed a new tax on luxury residential properties owned by non-resident billionaires and celebrities. The plan aims to target pricey pied-à-terres, or second homes, owned by wealthy individuals who do not pay New York state income taxes but still reap the benefits of owning a high-end property in the city. The proposed tax is expected to generate a significant amount of revenue for the state, which could be used to fund essential public services and infrastructure projects. As the governor's office continues to negotiate the details of the proposal, residents and business leaders are weighing in on the potential impact of the tax on the city's real estate market and economy.
New York governor pitches a new tax on pricey pied-à-terres AP News
