The tax proposal is being held up as a generational attempt to make the ultrawealthy pay more to society and potentially raise $500 million a year for New York City.
A push to tax multimillion-dollar second homes in New York City has been billed by Gov. Kathy Hochul and Mayor Zohran Mamdani as a civic mandate for the ultrawealthy to contribute more to society.
But as leaders in the State Capitol seek to incorpora... [1798 chars]