Mamdani’s NYC wealth tax plan ignites fiery debate
New York City Mayor Zohran Mamdani’s “pied-a-terre” wealth tax on luxury properties ignites a contentious debate, drawing strong criticism from Citadel CEO Ken Griffin and hedge fund manager Bill Ackman.
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New York City socialist mayor Zohran Mamdani is facing heat on social media after his post celebrating the state’s new pied-à-terre tax on New Yorkers with a second home.
“If you have a second home in New York City worth more than $5M, check your mailbox when you’re back in the five boroughs — because you’ve got mail,” Mamdani posted on X, touting the tax on specific second properties introduced by New York Gov. Kathy Hochul that he supported going into effect soon.
“Today, we sent notification letters to property owners, letting them know that our new pied-à-terre tax is coming soon,” Mamdani continued. “The best city in the world deserves the best parks, libraries, and schools in the world. That’s only possible when we all pay our fair share. “
As of Friday morning, Mamdani’s post had been viewed over 10 million times and conservatives on social media blasted the mayor and warned that the exodus of wealthy New Yorkers will only continue under this new plan.
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New York City Mayor Zohran Mamdani’s video admitting that he lacks the legal authority to arrest Israeli Prime Minister Benjamin Netanyahu did little to ease Jewish leaders’ concerns. (NYC Mayor’s Office via YouTube/Handout via Reuters)
“Never elect a politician who: (1) sees your money as his slush fund, (2) loves Karl Marx, or(3) uses French words like ‘pied-à-terre’ to disguise new, confiscatory taxes he wants to impose to redistribute wealth,” Republican Sen. Mike Lee (R-UT) posted on X.
“Socialism – Florida’s best real estate agent,” Republican Sen. Ashley Moody (R-FL) posted on X.
“NYC’s pied-à-terre tax hasn’t even started and brokers already say owners are calling to sell,” GOP strategist and attorney Mehek Cooke posted on X. “Empty units don’t tip [doormen] or pay supers. You’re not taxing the rich. You’re firing the working class that depended on them. “
“More incitement,” Judicial Watch President Tom Fitton posted on X. “Communist @NYCMayor celebrates a confiscatory tax targeted at a select few. “
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New York Gov. Kathy Hochul speaks about the excitement of seeing the Buffalo Bills in Western New York for the next 30 years during the ribbon cutting ceremony for the new Highmark Stadium in Orchard Park on June 23, 2026. (Shawn Dowd/Rochester Democrat and Chronicle / USA TODAY NETWORK via Imagn Images)
“What will the excuse be when literally nothing improves after all these tax increases?” New York City Republican Councilwoman Vickie Paladino posted on X. “Will they just demand even more, or will they tell us to ignore our own eyes as they insist they’ve actually fixed everything? Both? “
“The condescension towards the people who already pay a ton of property taxes to NYC,” Washington Free Beacon investigative reporter Chuck Ross posted on X. ” He thinks you’re an immoral person and worthy of mockery if you have a second home. ‘when you’re back in the five boroughs.’”
“That’s only possible when we all pay our fair share,’ says the man who’s literally lived off of taxpayer dollars for years, produces nothing, and is concentrating the burdens on others—others who’ve contributed exponentially more to the city in both taxes and charitable contributions than he could possibly hope to contribute in 10 lifetimes, I might add,” Manhattan Institute fellow Rafael Mangual posted on X.
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Mayor Zohran Mamdani speaks at a rally in New York alongside 1199SEIU members and immigration advocates after the Supreme Court ruled the Trump administration can revoke protections for Haitians and Syrians. (Lev Radin/Pacific Press/LightRocket via Getty Images)
“You can practically feel the glee emanating from this tweet so it’s hilarious that people will still refuse to admit he’s a full-blown communist,” civil rights attorney David Pivtorak posted on X.
Mamdani’s support of the pied-à-terre tax on second homes worth more than $5 million has been a viral controversy for months and started when
In April, New York City Mayor Mamdani and Hochul unveiled the joint legislative proposal targeting luxury second homes worth $5 million or more. Known as a pied-à-terre tax, the annual surcharge is expected to generate an estimated $500 million from affluent out-of-state property owners.
Mamdani has previously said revenue from the tax would go toward initiatives such as free childcare, cleaner streets and safer neighborhoods.
Critics, including billionaire Ken Griffin whose luxury New York City home was featured in Mamdani’s controversial video announcing the tax, argue the tax will only drive more wealthy New Yorkers out of the state and bring jobs and investments with them.
Fox News Digital reached out to Mamdani’s office for comment.
Fox Business’s Kristen Altus contributed to this report
