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Interview: Pied-A-Terre Tax

Martin Eiden | September 8, 2020

What are your thoughts on the pied-a-terre tax now that City Council members Mark Levine and Margaret Chin announced Monday that they would introduce a resolution later this week, with the goal of getting their colleagues to formally endorse a state-imposed surcharge on high-end second homes in the city?

Here are my thoughts...

A Pied-A-Tier tax would be a complete disaster for New York. Foreign buyers are at an all-time low with an “anti-foreign anything” administration in the White House.

A Pied-A-Tier tax could be a final nail in the coffin. Foreign buyers generated excellent paying UNION jobs in construction and building services (doorman, janitor, porters, garage attendants, resident managers, etc.). Not to mention all the jobs they support when they come to the city to spend money in shops and restaurants.

Local politicians cost this city 25,000 by kicking Amazon out. How many more do they want to lose by being anti-foreign?

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