President Donald Trump said Tuesday that his administration is examining whether the federal government can challenge New York City Mayor Zohran Mamdani’s new pied-à-terre tax on luxury second homes, calling the levy a "dangerous political ‘experiment’" that could damage the city.
Trump Targets Mamdani’s Luxury Home Tax "I am looking to see if the Federal Government has any legal right to avert this disaster," Trump wrote on Truth Social.
The tax, enacted through New York’s state budget, is expected to raise about $500 million annually.
The surcharge applies to non-primary residences.
Through fiscal 2028, houses worth $5 million to $15 million face a 0.8% surcharge, rising to 1.3% above $25 million, while condos and co-ops face higher temporary rates because city assessments understate market values.
