John Ketcham on Mayor Mamdani Amid Property Tax Database: He’s Learning That There’s Consequences to Raising Taxes

RUSH EXCERPT:
KETCHAM: "Mayor Mamdani is learning their consequences to let raising taxes the whole situation is a mess. First the mayor’s department of finance a published a spreadsheet with 900,000 addresses. Most of these owners are not going to be affected by the tax. But yet they freaked out when they saw their homes were listed on this initial list. Then he also sent out 17000 letters to owners of likely affected properties. Now, they are the ones who are probably going to be at least a subject to the tax unless they challenge it. They have until around the third week of August to challenge the assessment. But it’s going to be a logistical nightmare for both of these owners and for the department of finance for this was known from the very beginning that pied-à-terre tax was a difficult tax to enforce and implement and now Mamdani has a headache on his handset."