Interview: NYS Senator Pat Fahy (D-Albany) on proposing a Pied-A-Terre Tax Opt-in outside of NYC

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Interview: NYS Senator Pat Fahy (D-Albany) on proposing a Pied-A-Terre Tax Opt-in outside of NYC​


New York State Senator Pat Fahy discusses her proposal to expand Governor Kathy Hochul and Mayor Zohran Mamdani's proposal for a Pied-A-Terre tax on second luxury homes in New York City. Fahy is proposing to allow municipalities outside of NYC opt-in to a similar tax.

 
Bustedknees

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livingston said:

Interview: NYS Senator Pat Fahy (D-Albany) on proposing a Pied-A-Terre Tax Opt-in outside of NYC​


New York State Senator Pat Fahy discusses her proposal to expand Governor Kathy Hochul and Mayor Zohran Mamdani's proposal for a Pied-A-Terre tax on second luxury homes in New York City. Fahy is proposing to allow municipalities outside of NYC opt-in to a similar tax.

Click to expand...
That didn't take long.
 
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So let me get this straight... According to her, these investors owning multi-million dollar properties are keeping the 'average working person' from owning these properties? I consider myself at the high-middle portion of an 'average working person' and there is no way I could afford a multi-million dollar home. Let the owners pay their property and school taxes like the rest of us and call it good.
 
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Saltwater60

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jimc said:
So let me get this straight... According to her, these investors owning multi-million dollar properties are keeping the 'average working person' from owning these properties? I consider myself at the high-middle portion of an 'average working person' and there is no way I could afford a muti-million dollar home. Let the owners pay their property and school taxes like the rest of us and call it good.
Click to expand...
I agree.
I have heard recently that since they don’t live here they avoid other taxes so they think this is fair. I had no clue that budgets were set up by the number of addresses in NYS/NYC and not the income taken in by state revenue.
The stupidity here astounds me.
 
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jimc said:
So let me get this straight... According to her, these investors owning multi-million dollar properties are keeping the 'average working person' from owning these properties? I consider myself at the high-middle portion of an 'average working person' and there is no way I could afford a multi-million dollar home. Let the owners pay their property and school taxes like the rest of us and call it good.
Click to expand...
Wait till the owners decide it's not worth keeping and the property taxes collapse.
 
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livingston said:

Interview: NYS Senator Pat Fahy (D-Albany) on proposing a Pied-A-Terre Tax Opt-in outside of NYC​


New York State Senator Pat Fahy discusses her proposal to expand Governor Kathy Hochul and Mayor Zohran Mamdani's proposal for a Pied-A-Terre tax on second luxury homes in New York City. Fahy is proposing to allow municipalities outside of NYC opt-in to a similar tax.

Click to expand...
They really do want to chase every well off individual out of this state, don't they? How about applying that level of taxation to private equity firms buying single family homes?
 
TEOTWAWKI inc.

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Anyone that has Pied-A-Terre means they also already have one Pied-à-la-porte.

I would definitely raise their taxes so they move both feet out the door.
 
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Hochul hit with EXPLOSIVE revolt after expanding housing tax plan​

‘Mornings with Maria’ panel warns Gov. Kathy Hochul's new proposal to tax second homes worth $1 million could accelerate New York’s wealth exodus, hurt public safety funding and further strain the city’s economy amid a growing budget crisis.

 
FP1201

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livingston said:

Interview: NYS Senator Pat Fahy (D-Albany) on proposing a Pied-A-Terre Tax Opt-in outside of NYC​


New York State Senator Pat Fahy discusses her proposal to expand Governor Kathy Hochul and Mayor Zohran Mamdani's proposal for a Pied-A-Terre tax on second luxury homes in New York City. Fahy is proposing to allow municipalities outside of NYC opt-in to a similar tax.

Click to expand...
I'll just bet she's got a property that would be taxed even more and or her donors do too...conversely, I expect that any who own multi-million dollar second properties make/have enough Money that they really don't give a shit...look at taxes on Houses around any Body of Water: many are more per year than the average person pays a year for their mortgage...Properties worth in excess of five million, most likely require at least $100K a year to maintain.
NY doesn't have a revenue problem, it has a wasteful spending problem.
 
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The Post reported yesterday the tax will apply to any property worth more than $1m in NYC.

Also Bloomberg reports there is some kind of undisclosed deal for a new transfer tax on sales >$1m, supposedly only for NYC but being discussed to be rolled out statewide.
 
FP1201

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C3D said:
The Post reported yesterday the tax will apply to any property worth more than $1m in NYC.

Also Bloomberg reports there is some kind of undisclosed deal for a new transfer tax on sales >$1m, supposedly only for NYC but being discussed to be rolled out statewide.
Click to expand...
I though it was five million, but that's irrelevant, I'll contend most all of the Property in NYC is valued over one million.
Up here the only Million Dollar Properties are islands on the St. Lawrence with Houses on them, or huge tracts of active Farm Land.
 
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FP1201 said:
I though it was five million, but that's irrelevant, I'll contend most all of the Property in NYC is valued over one million.
Up here the only Million Dollar Properties are islands on the St. Lawrence with Houses on them, or huge tracts of active Farm Land.
Click to expand...

We were lied to, according to the Post. The plan is to hit $1m.

nypost.com

Hochul’s budget to bludgeon even more New Yorkers after details of controversial NYC second-home tax revealed

Hochul’s office finally released details of her and Mayor Zohran Mamdani’s new tax on second homes in New York City to the New York Times Thursday.
nypost.com nypost.com
 
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Cloward-piven strategy.
Around the world war times many politics were around, they still are. They work in the shadows.
Looks like Oh Canada is controlled by the euthanasia crowd.
 
Grimscale

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Wonder how they'd feel if the rich people, you know, those who could afford multi-million dollar second and third homes, decided not only to remove themselves and their money from NY, but also decided to tear down those multi-million dollar homes, buy up their neighbor's multi-million dollar homes to tear them down also, leaving nothing but barren land, no tax revenue AT ALL, and a big middle finger to that skank in Albany.
 
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