NYC Targets Million-Dollar Second Homes | New York City News

New York City’s new $500 million tax on ultra-luxury second homes—targeting owners of pied-à-terres worth over $5 million—is hitting the legal ropes today, with a major court hearing in Staten Island set to decide if this bold fiscal move can stand. Ten thousand eight hundred high-net-worth property owners are now facing the bill, as lawyers clash over the legality of the city’s plan to fund its budget. The outcome could reshape how the city raises revenue—and who pays for it. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2f59e5481df5e4bf