The city’s tax on luxury second homes can move forward for now after the Mamdani administration appealed a Staten Island judge’s ruling that temporarily blocked the rollout.
The appeal triggered an automatic stay, meaning the temporary restraining order is not currently in effect and the city can continue implementing the tax while the appeal is pending.
The tax applies to second homes in New York City worth more than $5 million and is expected to help close a $500 million budget deficit.
The case is scheduled to return to court Aug. 31, when a higher court will consider the dispute. Mayor Zohran Mamdani has said he is confident the tax will hold up in court.
Ken Girardin, a fellow at the Manhattan Institute, joined “News All Day” to react to the latest developments.
Tap the video player above to watch the interview.