Zohran Mamdani won the New York mayoral election with a left-wing platform. After barely a hundred days in office, a special tax on the rich is to follow.
April 17, 2026, 10:06April 17, 2026, 10:06
Peter Riesbeck / t-online
New York Mayor Zohran Mamdani has announced the introduction of a second home tax in his city. “We are one step closer to our goal of a balanced budget by taxing the super-rich and the global elite with a second home tax – the first tax of its kind in our state,” Mamdani said in a video on the X platform.
Zohran Mamdani, the mayor of New York.Image: keystone
Mamdani, who belongs to the left wing of the US Democrats, was elected mayor of New York last year. In his election campaign, he focused on relief for tenants in the city and above Steer for the super rich.
Mamdani announces the new taxes with this video:
Video: external/x
With his plea for a second home tax, Mamdani supports an initiative by the Democratic politician Kathy Hochul, governor of the state new York. The tax is intended to cover apartments valued at more than $5 million if the owners do not have their primary residence in New York. «Anyone who wants a five million US dollars “Anyone who can afford an expensive second home that sits empty most of the year can contribute like any other New Yorker,” said Hochul. According to initial calculations, a second home tax would bring in around $500 million per year.
Mamdani, who surprised everyone during the election campaign with provocative theses and quickly edited videosalso backs up his support for a second home tax with an appearance on social media. “This tax is aimed directly at rich people,” Mamdani says in a video. He stands in front of a penthouse and refers to an apartment in the property that hedge fund manager Ken Griffin had purchased: Estimated price: around $232 million.
According to a survey by the New York authorities, around 59,000 apartments in the city are registered as second homes. The city’s report notes: “New York continues to feel the aftereffects of the pandemic, and the data presented here shows significant changes in a very short period of time. Low-income New Yorkers continue to have a difficult time with even less housing available to support them in their housing choices and ensure that they and their families can continue to live here.”