New York Gov. Kathy Hochul is facing criticism after backing a new tax proposal targeting wealthy property owners in New York City, a move that critics say contradicts her earlier pledge not to raise taxes, as reported by The New York Post.
The controversy centers on a proposed pied-à-terre tax that would apply to certain high-value secondary residences in the city.
The plan, which has been discussed in Albany for years, gained renewed attention after Hochul signaled support for it in recent days.
The proposal would target roughly 13,000 second homes in New York City valued at $5 million or more.
According to the governor’s office, the surcharge is expected to generate at least $500 million annually, with the revenue intended to help address the city’s estimated $5.4 billion budget deficit.
Hochul’s shift comes after months of pressure from Mayor Zohran Mamdani and members of the Democratic Socialists of America, who have pushed for higher taxes on wealthy residents and corporations.
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