{"id":11016,"date":"2026-05-25T00:28:17","date_gmt":"2026-05-25T00:28:17","guid":{"rendered":"https:\/\/8657085.xyz\/?p=11016"},"modified":"2026-05-25T00:28:17","modified_gmt":"2026-05-25T00:28:17","slug":"hochuls-pied-a-terre-tax-will-hurt-regular-folks-retirees-because-of-property-value-fallout-critics","status":"publish","type":"post","link":"https:\/\/8657085.xyz\/?p=11016","title":{"rendered":"Hochul&#8217;s pied-\u00e0-terre tax will hurt regular folks, retirees because of property-value fallout: critics"},"content":{"rendered":"<p> <div style=\"display: grid; grid-template-columns: 300px 160px; gap: 2px; width: 460px; background: #eee; padding: 2px;\">\r\n\r\n  <!-- \u6574\u884c\u5bbd\u5e7f\u544a -->\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876674\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 90px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876676\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u5de6\u4fa7\u7ad6\u6392 -->\r\n  <div style=\"height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876672\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"height: 500px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876680\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u53f3\u4fa7\u6469\u5929\u697c\uff08\u548c\u5de6\u4fa7\u5b8c\u5168\u5bf9\u9f50\uff09 -->\r\n  <div style=\"grid-row: 3\/5; height: 750px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876678\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  \r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e6\" data-zoneid=\"5876682\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n<\/div><br \/>\n<\/p>\n<div>\n<p>Gov. Kathy Hochul\u2019s proposed pied-\u00e0-terre tax on pricey second homes won\u2019t just soak the jet-setting super rich \u2014 it also will nail hard-working families and retirees who live in the same buildings, critics charge.<\/p>\n<p>Managers at the landmark luxury Manhattan House Condominium at 200 E. 66th St. recently fired off a letter to state Sen. Liz Krueger and other pols griping about the plan \u2014 which Democratic Socialist Mayor Zohran Mamdani wholeheartedly backs.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Critics warn Gov. Kathy Hochul\u2019s pied-\u00e0-terre tax will hit regular families and retirees, not just the super-rich. <span class=\"credit\">Lone Pine Press for NY Post<\/span><\/figcaption><\/figure>\n<p>The building overseers warned that the planned surtax on second homes worth more than $5 million in the city could impact the property values of every owner who lives in the same co-op and condo building because it makes the sites unattractive for future buyers.<\/p>\n<p>That decreases everyone\u2019s property values, the opponents said.<\/p>\n<p>\u201cBased on publicly available market data, Manhattan House represents well over $1 billion in residential property value. That value is not held only by absentee investors or speculative buyers. It is held by residents, families, retirees, long-time New Yorkers, and owners who rely on the stability and liquidity of the New York City condominium market,\u201d Manhattan House said in a May 21 letter to the lawmakers.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>The letter argued that the tax\u2019s impact could extend beyond \u201chigh-value second homes\u201d and affect existing condominium and co-op owners whose homes could be affected by \u201creduced market demand, valuation uncertainty, higher transaction friction, and administrative burdens.\u201d<\/p>\n<p>The new tax is expected to be included in the revenue bill to fund the state\u2019s mammoth $268.5 billion for 2026-2027.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Manhattan House Condominium managers say the tax on second homes over $5M could tank property values for all residents. <span class=\"credit\">Andrii Yalanskyi \u2013 stock.adobe.com<\/span><\/figcaption><\/figure>\n<p>Mamdani personally set off a firestorm over the issue when he stood outside of a residential property owned by billionaire Citadel CEO Ken Griffin to tout the new planned tax.<\/p>\n<p>Manhattan House\u2019s famous residents over the years have included film star and Princess of Monaco Grace Kelly, jazz legend Benny Goodman, former New York Gov. Hugh Carey and comic actress Imogene Coca.<\/p>\n<p>Manhattan House said the planned pied-\u00e0-terre tax could:<\/p>\n<ul class=\"wp-block-list\">\n<li>Lower the value of apartments owned by many full-time New York residents.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Make it harder for owners to sell, refinance, or retain their homes.<\/li>\n<li>Impact the liquidity and stability of the New York City condominium and co-op market.<\/li>\n<\/ul>\n<ul class=\"wp-block-list\">\n<li>Affect retirees and long-time residents whose net worth may be concentrated in their homes.<\/li>\n<\/ul>\n<p>Manhattan House also said the tax on the rich would impact buildings that already bear \u201csignificant tax, insurance, regulatory, labor, maintenance, and compliance costs.\u201d<\/p>\n<p>The tax could also shatter \u201cconfidence in New York City as a place where residents can invest in a home without later being subjected to rushed and poorly understood tax policy,\u201d its management said.<\/p>\n<p>Manhattan House argued that the tax should be removed from the budget and subjected to a rigorous public review and hearings.<\/p>\n<p>Hochul\u2019s office Sunday defended the levy, arguing that New Yorkers who live in their apartments will not be taxed and that the surcharge will only apply to second homes worth more than $5 million.<\/p>\n<p>Mamdani, in an another apparent swipe at Citadel\u2019s Griffin, also doubled down on championing the surtax on second homes.<\/p>\n<p>\u201cOur new pied-\u00e0-terre tax will have the ultra-wealthy elite \u2014 those who own $5 million apartments in New York City but don\u2019t actually live here \u2014 pay their fair share,\u201d he said on X.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Democratic Socialist NYC Mayor Zohran Mamdani has also championed Hochul\u2019s proposed tax. <span class=\"credit\">Erik Pendzich\/Shutterstock<\/span><\/figcaption><\/figure>\n<p>His post included a cartoon sketch with one panel showing an empty apartment with a sign on the wall saying, \u201cMiami is Home.\u201d<\/p>\n<p>Griffin lives in the Miami area, indicating Mamdani might be reviving his feud with billionaire hedge fund honcho.<\/p>\n<p>The head of the city\u2019s leading business group Sunday said Mamdani should stop demonizing business executives such as Griffin.<\/p>\n<p>\u201cI don\u2019t think you should turn anybody into a villain \u2014 especially in the world where you have CEO\u2019s that were assassinated, like in the UnitedHealthcare situation,\u2019\u2019 said Steve Fulop, president and CEO of the Partnership for the City of New York, on 77 WABC\u2019s the \u201cCats Roundtable\u201d program, referring to the assassination of the exec allegedly by Luigi Mangione.<\/p>\n<p>\u201cYou had a shooting at Blackstone last year. I don\u2019t think you should ever single anybody out. \u2026 That was bad.\u201d<\/p>\n<\/p><\/div>\n<p><!-- \u603b\u5bb9\u5668\uff1a\u6700\u5927\u5bbd908px Grid\u7d27\u51d1\u5e03\u5c40 -->\r\n<div style=\"display: grid; grid-template-columns: 728px 160px; gap:2px; width:908px; background:#eee; padding:2px;\">\r\n\r\n  <!-- \u901a\u680f\u9876\u90e8\uff1a\u6700\u5927\u6a2a\u5e45 908x258 \u8de8\u6574\u884c -->\r\n  <div style=\"grid-column:1\/-1; height:258px; background:#ff6b6b; display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114307\" data-width=\"908\" data-height=\"258\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114307});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n  <!-- \u7b2c\u4e8c\u901a\u680f\uff1a728\u00d790 \u901a\u680f -->\r\n  <div style=\"grid-column:1\/-1; height:90px; background:#4ecdc4; display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114300\" data-width=\"728\" data-height=\"90\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114300});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n  <!-- \u5de6\u4fa7\u4e3b\u680f\uff1a\u591a\u5e7f\u544a\u5806\u53e0 -->\r\n  <div style=\"display:grid; gap:2px;\">\r\n    <div style=\"height:60px; background:#45b7d1; display:grid; place-items:center;\">\r\n\t<!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114308\" data-width=\"468\" data-height=\"60\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114308});<\/script>\r\n<!--JuicyAds END-->\r\n\t<\/div>\r\n    <div style=\"height:250px; background:#ffe066; display:grid; place-items:center;\">\r\n\t<!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114299\" data-width=\"300\" data-height=\"250\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114299});<\/script>\r\n<!--JuicyAds END-->\r\n\t<\/div>\r\n    <div style=\"height:250px; background:#ff9ecd; display:grid; place-items:center;\">\r\n\t<!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114305\" data-width=\"250\" data-height=\"250\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114305});<\/script>\r\n<!--JuicyAds END-->\r\n\t<\/div>\r\n    <div style=\"height:139px; background:#c792ea; display:grid; place-items:center;\">\r\n\t<!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114302\" data-width=\"133\" data-height=\"139\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114302});<\/script>\r\n<!--JuicyAds END-->\r\n\t<\/div>\r\n    <div style=\"height:125px; background:#91e7ac; display:grid; place-items:center;\">\r\n\t\r\n<!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114303\" data-width=\"125\" data-height=\"125\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114303});<\/script>\r\n<!--JuicyAds END-->\r\n\t<\/div>\r\n  <\/div>\r\n\r\n  <!-- \u53f3\u4fa7\u7ad6\u680f\uff1a160\u00d7600 \u6574\u5217\u9ad8\u5e7f\u544a -->\r\n  <div style=\"grid-row:3\/8; height:600px;  display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114301\" data-width=\"160\" data-height=\"600\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114301});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n<\/div><br \/>\n<br \/><a href=\"https:\/\/nypost.com\/2026\/05\/24\/us-news\/hochuls-pied-a-terre-tax-will-hurt-regular-folks-retirees-because-of-property-value-fallout-critics\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gov. Kathy Hochul\u2019s proposed pied-\u00e0-terre tax on pricey second homes won\u2019t just soak the jet-setting&#8230;<\/p>\n","protected":false},"author":1,"featured_media":11017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[349],"tags":[2683,3678,10692,10689,1086,10690,10694,10691,10693,64],"class_list":["post-11016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-critics","tag-fallout","tag-folks","tag-hochuls","tag-hurt","tag-piedaterre","tag-propertyvalue","tag-regular","tag-retirees","tag-tax"],"featured_image_urls":{"full":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476.jpg",1200,799,false],"thumbnail":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-150x150.jpg",150,150,true],"medium":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-300x200.jpg",300,200,true],"medium_large":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-768x511.jpg",640,426,true],"large":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-1024x682.jpg",640,426,true],"1536x1536":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476.jpg",1200,799,false],"2048x2048":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476.jpg",1200,799,false],"covernews-slider-full":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-1115x715.jpg",1115,715,true],"covernews-slider-center":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-800x500.jpg",800,500,true],"covernews-featured":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-1024x682.jpg",1024,682,true],"covernews-medium":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-540x340.jpg",540,340,true],"covernews-medium-square":["https:\/\/8657085.xyz\/wp-content\/uploads\/2026\/05\/128673476-400x250.jpg",400,250,true]},"author_info":{"display_name":"admin","author_link":"https:\/\/8657085.xyz\/?author=1"},"category_info":"<a href=\"https:\/\/8657085.xyz\/?cat=349\" rel=\"category\">Blog<\/a>","tag_info":"Blog","comment_count":"0","_links":{"self":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts\/11016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11016"}],"version-history":[{"count":0,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/posts\/11016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=\/wp\/v2\/media\/11017"}],"wp:attachment":[{"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/8657085.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}