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Notes -
Sometimes it’s good to admit when your enemies do something smart. I like Mamdanis Pied-a-Terre tax. My gut says most of these are likely tax dodgers which isn’t fair to the rest of the city. Either legally tax-dodging by limiting days or being smaller fish not getting caught. Making them pay a PAT tax or NY income taxes seems fundamentally fair to me.
And if it gets people to sell second homes and instead stay in hotels 2 months out of the year I think that’s a net positive for a city with limited housing.
I’ll disagree with a million things with Mamdani and NYC policy but the concept of a PAT tax feels fair to me. I would be in favor of lower taxes overall but a PAT feels like it would capture a lot of people who use NYC services but dodge their taxes which boost tax fairness in my opinion.
Do you guys think this will start being rolled out to other states that want tax money from the second homes of the wealthy? Colorado seems like a pretty obvious opportunity with all of the summer/ski mountain cabins/chalets. But... for well-to-do locals, these mountain homes are a crucial part of their culture.
It’s already part of the tax structure almost everywhere.
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Yes because it’s already a common tax. Florida has had it for a long time. Usually I believe it’s more framed as a discount and not a tax.
But few places have significant amounts of wealthy part-time residents.
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