NYC Tax on Second Homes Targets 13,000 Properties, Hochul Says

[Captain Caveman]

MSN

(Bloomberg) -- New York Governor Kathy Hochul is proposing a new tax on second homes in New York City worth at least $5 million as a way to raise cash for the city’s struggling budget.

“This is a targeted surcharge on second homes and investor owned apartments worth over $5 million, homes that in many cases sit vacant for a large part of the year,” Hochul said on Wednesday at a press conference in midtown Manhattan. She referenced a nearby home worth over $100 million that she says has never been occupied. “They’re part of our skyline, but those people are not part of our city.”

It just amazes me that they never stop and think that maybe they are just spending too much money.

Then again it's is not like they are spending their money....Oh well, theft comes naturally to them.

In the UK, if you Airbnb it out for at least 140+ days in the year and it actually gets let 70+ times in that year, you avoid the second home tax.

 

[leftwinger]

How do they know when people come and go to these properties?

 

[Toddsterpatriot]

How do they know when people come and go to these properties?

The Stasi has a full report.

 

[leftwinger]

The Stasi has a full report.

Do you have to declare your main 51% address on Tax forms? If you don't live there, make no I ncime? You dont have to file. But somebody has to pay property tax. So they got your name.

 

[Toddsterpatriot]

Do you have to declare your main 51% address on Tax forms? If you don't live there, make no I ncime? You dont have to file. But somebody has to pay property tax. So they got your name.

If you earn income in more than one state, yes, you have to allocate by day.

They already pay property tax on the expensive property, but now Mamdani wants more.

What could go wrong?