‘Mornings with Maria’ panelists discuss Bill Ackman’s warning that the new NYC pied-à-terre tax will lead to capital flight and lower overall tax revenues as wealthy residents flee luxury properties.
Panelists examine the economic fallout of NYC’s new pied-à-terre tax on ‘Mornings with Maria’. Investor Bill Ackman warns the annual fee on luxury properties worth over $5 million will trigger severe capital flight and ultimately reduce overall tax revenues. Zohran Mamdani defends the controversial policy as a necessary measure to tax the wealthiest non-resident real estate owners.
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