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Benzinga
Benzinga
Business
Mohd Haider

Bill Ackman Warns NYC's Luxury Home Tax Will Backfire, Says It Could Lower Property Values and Tax Receipts

Bill Ackman Luxury NY NYC Zohran Mamdani New York United States
Zohran,Mamdani,Who,Is,Likely,To,Become,Next,Mayor,Of

Billionaire investor Bill Ackman is pushing back on New York City’s pied-à-terre tax, arguing the levy will backfire by shrinking property values and tax revenue rather than boosting city coffers.

Cap Rate Math Points to Steep Value Losses

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