Donald Trump has sounded the alarm on a proposed pied-à-terre tax in New York City, warning that it could accelerate the wealth exodus from the city. The tax, which is expected to be introduced by Governor Kathy Hochul and Mayor Eric Adams, would target wealthy individuals who own multiple homes in the city. Trump, a longtime resident of New York, claims that the tax would unfairly burden affluent residents and drive them out of the city, exacerbating a trend of wealthy individuals fleeing high-tax areas. As the city grapples with a growing affordability crisis, the pied-à-terre tax has become a contentious issue in local politics.
Trump warns new Hochul, Mamdani pied-à-terre tax could accelerate NYC wealth exodus Fox Business
