Residential luxury towers along Billionaires Row on June 30.
July marked the official start of the pied-à-terre tax, an annual surcharge levied against secondary luxury homes in the city. It was signed into law as part of the state budget and found backing among both Mayor Zohran Mamdani and Governor Kathy Hochul, who has pushed back against many of the mayor’s proposed wealth taxes. But the initial rollout is prompting criticism among city residents after the government published a list of properties potentially eligible for the tax and sent letters to about 17,000 owners informing them they might be subject to it, including some who are full-time city residents. City Hall has said a list of taxable properties is published annually as part of city law, but some critics have equated it to “doxing” — like Pivot co-host Scott Galloway, whose name was included. In the latest episode, he and Kara Swisher got into all that.
Pivot
Twice weekly, Scott Galloway and Kara Swisher host Pivot, a New York Magazine podcast about business, technology, and politics.
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