Syracuse, N.Y. – Gov. Kathy Hochul and New York City Mayor Zohran Mamdani are backing a proposal to impose a tax surcharge on second homes valued at more than $5 million.
The tax would raise an estimated $500 million annually for the cash-strapped city by taxing the super wealthy.
Few details of the proposed tax have been made public. And for now, the proposal is only targeted at ultra-luxury second homes in New York City…