{"id":993426,"date":"2026-08-10T19:42:59","date_gmt":"2026-08-10T19:42:59","guid":{"rendered":"https:\/\/www.europesays.com\/us\/993426\/"},"modified":"2026-08-10T19:42:59","modified_gmt":"2026-08-10T19:42:59","slug":"hochul-defends-new-york-city-pied-a-terre-tax","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/993426\/","title":{"rendered":"Hochul Defends New York City Pied-\u00e0-Terre Tax"},"content":{"rendered":"<p class=\"wp-block-paragraph\">By Nicolette Cavallaro<br \/>Staten Island Advance, N.Y.<br \/>(TNS)<\/p>\n<p class=\"wp-block-paragraph\">STATEN ISLAND, N.Y.\u00a0\u2014 New York Gov.\u00a0Kathy Hochul\u00a0pushed back on suggestions that state-approval of the pied-\u00e0-terre tax represents a concession to progressive\u00a0Democrats\u00a0in\u00a0New York City, saying the measure was designed to ensure wealthy property owners contribute to city services.<\/p>\n<p class=\"wp-block-paragraph\">The second home tax applies to condominiums and co-ops valued at $1 million or more that are not used as primary residences. It also covers one- to three-family homes valued at more than $5 million that are not used as primary residences.<\/p>\n<p class=\"wp-block-paragraph\">During a CNN News Central interview this week, Hochul was asked about the growing influence of progressive Democrats\u00a0following recent primary victories, including that of\u00a0New York City\u00a0Mayor Zohran Mamdani, a democratic socialist.<\/p>\n<p class=\"wp-block-paragraph\">CNN\u2019s\u00a0Omar Jimenez\u00a0asked Hochul how she works with\u00a0Democrats\u00a0who have come to power from the party\u2019s left flank and later questioned whether New York\u2019s tax on luxury second homes was an example of compromise with progressives.<\/p>\n<p class=\"wp-block-paragraph\">Hochul rejected that characterization, stating that she is a representative for her voters and would work with whoever is elected to deliver results for New Yorkers.<\/p>\n<p class=\"wp-block-paragraph\">\u201c\u2026 I actually respect the will of the voters, and I\u2019ll work with whomever the voters want me to work with,\u201d Hochul said.<\/p>\n<p class=\"wp-block-paragraph\">When Jimenez pointed to Hochul\u2019s previous resistance to raising taxes on wealthy residents and corporations because of concerns they could leave\u00a0New York, the governor said the second-home tax is fundamentally different.<\/p>\n<p class=\"wp-block-paragraph\">\u201cI said I don\u2019t support increasing taxes on corporations who can leave or on individuals,\u201d she explained. \u201cBut what I do support is saying that those who are able to afford a second home worth over $5 million but do not make\u00a0New York City\u00a0your home, you\u2019re benefiting from police and fire protective services, and are maintaining our roads, and during snowstorms and in the summer. So why aren\u2019t you contributing to this?\u201d<\/p>\n<p class=\"wp-block-paragraph\">City Hall\u00a0projects that the tax will raise $500 million annually, though some financial experts have suggested that number could be lower.<\/p>\n<p class=\"wp-block-paragraph\">Hochul did not completely rule out a compromise in supporting the tax also said it is not an ideological shift. She said it is designed to provide\u00a0New York City\u00a0with an extra source of revenue at a time when city leaders are grappling with budget pressures.<\/p>\n<p class=\"wp-block-paragraph\">\u201cI did this to help the\u00a0City of New York, which I also represent, get through a financial crisis,\u201d Hochul said. \u201cThe mayor did inherit a real fiscal mess and he had to plug a hole.\u201d<\/p>\n<p class=\"wp-block-paragraph\"><strong>Photo credit:<\/strong> Governor Kathy Hochul\/Facebook<\/p>\n<p class=\"wp-block-paragraph\">_______<\/p>\n<p class=\"wp-block-paragraph\">\u00a9 2026 Staten Island Advance, N.Y. Visit\u00a0<a href=\"https:\/\/www.silive.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">www.silive.com<\/a>. Distributed by\u00a0Tribune Content Agency LLC.<\/p>\n<p>Sign in to get access to this free resource, and all of our whitepapers and reports.<\/p>\n<p>\t\t\t\t\t<img decoding=\"async\" class=\"loggedout-cta-logo\" src=\"https:\/\/www.cpapracticeadvisor.com\/wp-content\/uploads\/CPAPA-Logo.svg\" alt=\" &lt;CPA Practice Advisor logo \"\/><\/p>\n<p>\t\t\t<strong>Download this content today!<\/strong><\/p>\n<p>Register to get free access to this content, as well as newsletters, continuing education, podcasts, and more\u2026<\/p>\n<p class=\"loggedout-cta-link-item loggedout-cta-login-links\">\n\t\t\t\t\t\t\t<a class=\"link-button cpa-button__subscribe cpapa-cta-register\" href=\"https:\/\/www.cpapracticeadvisor.com\/register\/\" target=\"_self\" aria-label=\"Subscribe\" rel=\"nofollow noopener\"><br \/>\n\t\t\t\t\tRegister Now<br \/>\n\t\t\t\t<\/a><br \/>\n\t\t\t\t\t\t\t\t\t\tAlready registered? <a class=\"cpa-button__subscribe cpapa-cta-login\" href=\"https:\/\/www.cpapracticeadvisor.com\/login\/\" target=\"_self\" aria-label=\"Log In\" rel=\"nofollow noopener\">Click here to Log In<\/a>\n\t\t\t\t\t<\/p>\n<p class=\"loggedout-cta-link-item loggedout-cta-faq\">\n\t\t\t\t<a href=\"https:\/\/www.cpapracticeadvisor.com\/frequently-asked-questions\/\" target=\"_self\" aria-label=\"Read the FAQs\" rel=\"nofollow noopener\">Read the FAQs<\/a>\n\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"By Nicolette CavallaroStaten Island Advance, N.Y.(TNS) STATEN ISLAND, N.Y.\u00a0\u2014 New York Gov.\u00a0Kathy Hochul\u00a0pushed back on suggestions that state-approval&hellip;\n","protected":false},"author":3,"featured_media":993427,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[5229,5371,405,403,17050,5226,5225,5228,5227,304336,11189,9423,27629,398169,618,67,586,132,5230,68,2969],"class_list":["post-993426","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-america","tag-kathy-hochul","tag-new-york","tag-new-york-city","tag-new-york-state","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-pied-a-terre-tax","tag-property-tax","tag-property-taxes","tag-second-home","tag-tax-on-second-homes","tag-taxes","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117072929089584606","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/993426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=993426"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/993426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/993427"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=993426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=993426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=993426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}