tax on second homes
Coverage of tax on second homes in the Nexus archive.
- Is a second home in New York or London more trouble than it’s worth?
New York's new tax on second homes is causing owners to reconsider their investments. London has similarly been questioning the value of second homes in the city for some time.
- New Yorkers collected $2.6 billion in welfare cash payments last year, city data shows
New York City distributed $2.6 billion in cash welfare payments to 864,999 residents in 2025, a 30-year high and 71% increase from 2022. Combined with SNAP, welfare payments totaled $7 billion in 2024. Mayor Zohran Mamdani's policy to tax luxury second homes targeting the wealthy, including billionaire Ken Griffin, sparked controversy.
- New Yorkers collected $2.6 billion in welfare cash payments last year, city data shows
New York City distributed $2.6 billion in cash assistance to 864,999 residents in 2025, a 30-year high and a 71% increase from 2022. Combined with SNAP payments, total welfare payouts exceeded $7 billion in 2024. Mayor Zohran Mamdani's 2026 budget allocated $14.63 billion for welfare and social services, reflecting continued spending increases.