'We're taxing the rich': NYC Mayor Mamdani touts new $500M-a-year tax on luxury second homes

New York City Mayor Zohran Mamdani and Governor Kathy Hochul announced a $500 million annual tax on luxury second homes valued at $5 million or more, targeting non-residents. The tax aims to fund initiatives like free childcare and public services, with Mamdani emphasizing it as a step toward fairness for working New Yorkers.