Photo: Yuri Gripas/Abaca/Bloomberg/Getty Images
Back in 2019, Donald Trump, who was born, raised, and spent his entire adult life in New York City, became a permanent resident of Florida. And while a number of reasons probably went into that decision — the extreme redness of his new home state better aligning with his politics, the gilded resort he already owned there, the fact that many a New Yorker hated his guts — the biggest factor was the opportunity to save taxes, those things he prides himself on not paying. So while few people were likely laboring under the illusion that he was a fan of the pied-à-terre tax NYC is trying to impose on second homes worth more than $5 million, he felt the need to make his position clear on the matter.
Taking to Truth Social on Tuesday, Trump ranted, “The NYC Pied-a-Terre Tax is costing New York City and State a fortune in that the money, eventually to be gotten, is very little compared to to the TAXES PAID by the tens of thousands of people who are fleeing the City, never to return. Florida, Texas, and numerous other States, are making an absolute fortune! This dangerous political ‘experiment’ in New York will destroy what was once a great City and State. It is pure Amateur Hour, and it’s hard, as President of the United States of America, to sit back and watch it happen, especially to a place I once loved. Financial, and then Social, RUIN, is a 100% certainty – And then the Radical Left Jihadists charge Congestion Pricing on top of everything else. This doesn’t work in America, and must be stopped, NOW! I am looking to see if the Federal Government has any legal right to avert this disaster, before it is too late, for the millions of people who cherish New York and want to see it thrive, as opposed to becoming a filthy, crime ridden, decrepit place of mockery and scorn. MAKE AMERICA GREAT AGAIN! President DJT”
While Trump made Florida his primary residence, he did hang on to his penthouse at Trump Tower, which reportedly has an assigned market value of $6 million (it would surely sell for more) and would therefore be subject to the charge. That is, if the tax goes through: On Monday, a Staten Island judge temporarily halted the policy, the rollout of which has not been without issues. Among other things, some homeowners say they received notices from the city despite being full-time residents. After the judge’s ruling, the Mamdani administration filed a notice with the court to appeal; the next hearing will be held on August 31.
Speaking of Zohran Mamdani, it’s notable that Trump did not target the mayor by name in his post, but perhaps he maintains warm and fuzzy feelings about him. (It’s also possible “Radical Left Jihadists” was meant to be his nickname.) For his part, Mamdani does not appear to have responded to Trump’s comments about the tax, though Governor Kathy Hochul has, telling reporters, “I believe that in the State of New York, if you have a $5 million second home, that you should be able to afford to pay for police and fire and trash removal and snow removal in wintertime. It’s about paying your fair share. Donald Trump should focus on all the pain he’s causing New Yorkers and knock it off and not worry about us.”
Trump, of course, is far from the only billionaire who doesn’t like the prospect of paying taxes on one of his vacation homes. After Mamdani featured Citadel CEO Ken Griffin and his $238 million penthouse in a video announcing the tax, the hedge-fund manager threatened to scrap a $4.5 billion plan to help redevelop 350 Park Avenue and take 1 million square feet of office space there. As it turns out, that plan is moving forward.
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