New York City Mayor Zohran Mamdani’s tax proposal that will come for houses of Jeff Bezos, Michael Dell and other millionaires clears legal hurdle
The ruling reverses a previous ruling by Staten Island judge dated September 29 that the city had mishandled the rollout and ordered officials to restart the process. Announced earlier this year, the tax could impact billionaires including Amazon founder Jeff Bezos and Dell CEO Michael Dell.
Called the “pied-à-terre tax”, it would apply to homes worth over $5 million that are not the owner’s main residence. The four judge panel unanimously dismissed the homeowners’ lawsuit stating that the plaintiffs lacked legal standing, according to a Fox News report. Under the new ruling, Mamdani’s administration gets a go ahead to continue implementing the surcharge on the ultra-rich.
New York City Mayor Zohran Mandani scored a legal victory after a state appeals court reversed a lower court ruling that had previously ordered his administration to redo the rollout of a tax on high-end second homes.
Reacting to the latest ruling, Zohran Mamdani said: “From day one, those with the most have attempted to use every legal avenue available to shield their wealth and avoid contributing more to our city”.