Michael Cohen, a former associate of President Trump, has publicly criticized New York City's new pied-à-terre tax, describing the notice he received as erroneous and invasive. Cohen stated he has paid New York City property taxes for 34 years and is a registered voter, yet he was required to prove his Trump Park Avenue condo is his primary residence or face substantial new taxes.
The tax, which applies to second homes valued at $5 million or more and unoccupied, non-primary residences valued at $1 million or more, was passed as part of the state budget. Cohen estimated he could owe nearly $50,000 if incorrectly assessed.
Cohen voiced particular concern about the amount of personal information the city is requesting, including tax returns and Social Security numbers of all residents. He also objected to the requirement to disclose ownership details if the property is held in a trust or LLC. Cohen's own condo is in a trust, a structure he uses for asset protection and to facilitate inheritance.
He expressed worry about data security and who would have access to the submitted information, questioning the security of the city's website. His concerns were amplified by the city's recent publication of a searchable database listing property owners potentially subject to the tax, a move that drew criticism for potentially endangering individuals by publicizing their names and addresses.
Cohen, who served as a key witness against Trump in a 2023 business fraud case, suggested that the city's approach, particularly under Mayor Zohran Mamdani, is driven by a "democratic socialist" agenda to extract funds from wealthy New Yorkers. Other recipients of the tax notice also expressed outrage and concern over the data collection, with one attorney describing the list as an attempt to "shame everyone in this city who has worked hard to succeed."