This week has been rough for proponents of New York City’s pied-à-terre tax. On Monday, former Commerce Secretary Wilbur Ross filed a lawsuit against the state, calling the tax unconstitutional. On Tuesday, a judge ruled the city had to roll back the notices it sent out to property owners and all but basically start over. It follows a hectic rollout, coupled with threats and warnings that the young mayor’s video announcing the tax outside billionaire Ken Griffin’s home would lead to an exodus of wealth from the city. That trend has yet to surface.
What did, however, were lawsuits. Ross on Monday joined a growing list of people who are suing either the city or the state over the tax. In an interview with Fortune, Ross said the new tax on luxury second homes targets the one group of owners who can’t vote against it.
