New York City Mayor Zohran Mamdani‘s administration is owning up to its mistake regarding the pied-à-terre tax.
The tax is meant for wealthy people who own a one- to three-family home worth more than $5 million, or a condominium or cooperative unit worth more than $1 million that is not their primary residence.
In a new court filing — part of a lawsuit over the tax — the city admitted it mistakenly notified over 1,200 property owners that they may be subject to the tax but that they have since established residency, making them exempt, ABC 7 reported last week.
The city defended its request to require homeowners to prove their residency, claiming the process is “actually an intentional design of the law” and that, while it can be onerous, it “does not make it illegal,” attorneys claimed…