Trump criticizes New York's new tax on luxury second homes. President Donald Trump has attacked NYC Mayor Zohran Mamdani's tax policies, claiming they are destroying the city and driving people away. Governor Kathy Hochul is proposing a new tax surcharge on secondary residences valued over five million dollars, expected to generate at least five hundred million dollars annually to address the city's budget deficit. Trump argues on Truth Social that these tax policies are fundamentally wrong and that history proves such approaches fail. The proposal represents a compromise between progressive demands to tax the wealthy and concerns about financial stability, targeting luxury pied-à-terre properties that sit vacant most of the year.
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