- Associated Press - Tuesday, September 23, 2014

NEW YORK (AP) — Mayor Bill de Blasio is saying he’ll “take a look” at a proposal to tax luxury pieds-a-terre in New York City.

The Fiscal Policy Institute released a report Monday urging de Blasio to seek Albany’s approval to tax people who keep a second home in New York worth more than $5 million.

The institute said there were more than 1,500 of those apartments which could raise $665 million every year.

De Blasio said Tuesday his administration will “assess” the proposal.

Many who keep second homes in New York claim their permanent residency in nearby states.

Others are wealthy foreigners who keep a Manhattan apartment as a status symbol or investment.

The mayor’s plan to raise taxes on the wealthy to fund pre-kindergarten died in Albany earlier this year.



Click to Read More

Click to Hide