Mamdani on if He Has Any Regrets About Pied-à-Terre Tax Rollout: I Continue to Believe It Will Raise $500M on an Annual Basis

EXCERPT:

MAMDANI: “Look, I continue to believe that the pied-à-terre surcharge will raise $500 million on an annual basis, and the importance of this tax is that it is one that will ensure that our streets are cleaner, that our city is safer, that our schools are more supported, and what we are also doing is embarking on something new in New York City, where we are ensuring that we are assessing the primary residence of homeowners in homes that are worth more than $5 million, and we've sent out 17,000 letters, and now from that, we're receiving engagement from New Yorkers to assess what the final number is. The thing we did not want to do was levy this charge without giving New Yorkers a period of time where they could engage with the city, and now that's this period of engagement.”