Hochul: Pied-à-Terre Tax ‘Just Makes Sense’

EXCERPT:

HOCHUL: “You know, we have Russian oligarchs, we have Saudi princes, we have people who are not necessarily New Yorkers, and they’re buying a second home, maybe a third, maybe a fourth home, a $5 million or higher. I’m not talking about someone who has a little apartment, right, because they want to visit the grandkids, right? This is $5 million dollar apartments. And you’re also getting police services, fire service. You’re not paying your fair share to basically be a New Yorker, and so if you want to be a New Yorker, make this your primary home, you don’t have to pay the tax, but as long as you’re someone from the outside, you’re going to contribute more to the services that you use. It just makes sense, instead of putting that burden on the people who really do call New York home. That’s — that’s what we decided to do.”