New York's Millionaire Exodus Is Costing Billions In Lost Revenue
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Source: Zero Hedge
Published: 2026-07-15 08:00 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Culture & Entertainment, Tax & Budget, Media
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Snippet:
Mayor Zohran Mamdani stood outside Ken Griffin's $238 million Manhattan penthouse in April and declared victory. "When I ran for mayor, I said I was going to tax the rich. Well, today we're taxing the rich," he said in a social media video marking the debut of New York City's first pied-à-terre tax, an annual fee on luxury properties worth more than $5 million whose owners do not live in the city full time.
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