No one likes higher taxes. But New York City Mayor Zohran Mamdani’s plan to tax wealthy residents’ second homes has elicited a highly emotional response from two of the city’s richest.

New York City Mayor Zohran Mamdani is backing a pied-à-terre tax on expensive second homes, a plan announced with Gov. Kathy Hochul as part of an effort to close the city’s budget gap. The measure is ...

After a real estate executive compared the phrase to a racial slur, the pro-progressive tax group Patriotic Millionaires had a few harsh words. In New York, lawmakers are considering a pied-à-terre ...

A billionaire acquaintance of mine who moved from Manhattan to Miami during the pandemic was talking with me recently about New York City’s proposed pied-à-terre tax—an annual surcharge on second ...