People who buy luxurious second homes in New York City, but live most of the year elsewhere, would have to pay a new tax on the properties under a tentative agreement — an initiative to appease Mayor Zohran Mamdani and liberal voters who launched him into office with chants of “tax the rich.”
But the deal, part of a sprawling budget plan announced Thursday by Gov. Kathy Hochul, would stop short of a major priority for the mayor: a broad tax increase on the state's wealthiest residents.
