Overview
- President Donald Trump said on Truth Social that Mayor Zohran Mamdani is "destroying New York," reversing his November 2025 remark that Mamdani would be "an excellent mayor."
- The plan from Mamdani and Governor Kathy Hochul would add an annual surcharge to second homes valued above $5 million owned by people who do not live in the city, and it requires approval in the state budget.
- City officials say the measure is aimed at ultrawealthy nonresidents who leave high-end units largely empty and estimate it could raise about $500 million a year.
- An official document cites 93% public support and points to examples such as billionaire Ken Griffin’s $238 million Midtown penthouse.
- Trump changed his primary residence to Florida in 2019 and owns several New York City properties, which reporting notes could be affected by the surcharge.