The Aporia
Post Editorial Board. (2026, October 17). The Hochul-Mamdani pied-à-terre tax is completely falling apart. New York Post. https://nypost.com/2026/10/16/opinion/the-hochul-mamdani-pied-a-terre-tax-is-completely-falling-apart/
Post Editorial Board. “The Hochul-Mamdani pied-à-terre tax is completely falling apart.” New York Post, 17 Oct. 2026, https://nypost.com/2026/10/16/opinion/the-hochul-mamdani-pied-a-terre-tax-is-completely-falling-apart/.
Post Editorial Board. “The Hochul-Mamdani pied-à-terre tax is completely falling apart.” New York Post, October 17, 2026. https://nypost.com/2026/10/16/opinion/the-hochul-mamdani-pied-a-terre-tax-is-completely-falling-apart/.
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The Hochul-Mamdani pied-à-terre tax in New York City is collapsing before it even takes effect. Initially expected to affect 13,000 homeowners, the tax will now impact fewer than 9,000, raising less than the projected $500 million for the city’s budget. Nearly 7,000 out of 17,000 potentially liable homeowners have already won appeals, and another 3,800 are pending review. City Comptroller Mark Levine had predicted this shortfall. Plaintiffs challenging the tax on grounds of unconstitutionality and market value overstatement argue that collectible revenue could be significantly less than projected. Mayor Zohran Mamdani pushed for the tax to appease his socialist base, while critics like Citadel CEO Ken Griffin responded by expanding in Florida instead.