Governor Kathy Hochul has defended the release of a new list detailing New Yorkers who could be subject to a recently approved pied-à-terre tax, asserting that the document is "not out of the ordinary."
Speaking at an unrelated press conference, Hochul characterized the list, compiled by the city's Department of Finance, as a standard annual disclosure of property tax information. "This is a list that’s released on an annual basis. Nothing unusual here. Every building, property tax debt is public always has been," she stated.
The new tax, enacted as part of a budget agreement, applies to luxury second homes in New York City valued over $5 million. The Department of Finance uploaded a comprehensive list that includes property owners' names and addresses, along with details of individuals who may be liable for the tax. This administration requires those on the list to file a claim to demonstrate why they should be exempt.
The release of the list followed a social media post from Mayor Zohran Mamdani, who joyfully informed wealthy New Yorkers to "check your mailbox when you’re back in the five boroughs, because you’ve got mail" as notification letters were dispatched.
Hochul, who is up for re-election in November, has faced pressure from progressive factions, including Mamdani and the Democratic Socialists of America, to increase income taxes on wealthy New Yorkers and raise corporate taxes. While she has resisted these broader calls beyond the pied-à-terre tax, she has navigated a path between appealing to statewide moderates and not alienating Mamdani and his supporters, who have alluded to potential primary challenges.
Regarding Mamdani's announcement about the tax, Hochul stated she would not question his motives, suggesting the notification serves a public service. "There are people who have no idea that this applies to them. So, elevating the notification probably sounds like the way to make sure that people know that you can be subjected to this tax," she said. "So I won’t question any motivation behind that, other than it’s public service, to let you know that this first time ever this applies to them."
Mamdani previously drew criticism after posting a video outside billionaire Ken Griffin's Manhattan residence to promote the tax. Following this, Griffin expanded his Citadel Hedge Fund's operations in Florida, rather than New York.