New York City Mayor Zohran Mamdani's pied-à-terre tax is moving ahead. But will it work?

New York is moving ahead with a pied-à-terre property tax in its budget. Existing taxes from around the world's major cities show the limits of the policy.

source https://www.cnbc.com/2026/05/12/mayor-mamdani-new-york-pied-terre-property-tax-real-estate.html