{"id":199368,"date":"2026-04-16T14:30:08","date_gmt":"2026-04-16T14:30:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/199368\/"},"modified":"2026-04-16T14:30:08","modified_gmt":"2026-04-16T14:30:08","slug":"new-york-state-considering-new-tax-on-these-homeowners","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/199368\/","title":{"rendered":"New York State Considering New Tax On These Homeowners"},"content":{"rendered":"

Governor Kathy Hochul is proposing a new tax on certain homeowners in New York State.<\/p>\n

Will this impact you?<\/p>\n

Hochul Wants To New Tax On Luxury Second Homes<\/p>\n

NY Governor Hochul Delivers Remarks At MTA Board Meeting<\/p>\n

Getty Images<\/p>\n

Governor Kathy Hochul is throwing her support behind a proposed tax targeting ultrawealthy owners of second homes in New York. She’s backing a new tax proposal that would target some of the most expensive second homes in New York City, and it is already stirring debate.<\/p>\n

Under the plan, homeowners with luxury properties in New York City valued at $5 million or more could face a new surcharge if their primary residence is outside the city. The idea is aimed squarely at high-end second homes, often owned by wealthy individuals who split time between multiple residences.<\/p>\n

State officials estimate the proposal could bring in about $500 million a year. That revenue would go toward helping close a significant budget gap facing New York City.<\/p>\n

For all the news that the Hudson Valley is sharing, make sure to follow Hudson Valley Post on Facebook,<\/a>\u00a0and download the\u00a0Hudson Valley Post Mobile App <\/a><\/p>\n

New York City Mayor Zohran Mamdani Supports Plan<\/p>\n

New York City Mayor Zohran Mamdani has voiced support for the proposal, but he has also been pushing for additional tax increases on high earners and large corporations.<\/p>\n

The move comes as the city continues to deal with a multi-billion-dollar shortfall. Supporters of the plan say it is a way to generate revenue from high-value properties that are often under-taxed compared to their market worth.<\/p>\n

Hochul Doesn’t Want A Bigger Tax On The Rich<\/p>\n

That is where Hochul is drawing a line. While the governor is backing the luxury second-home surcharge, she has pushed back on broader tax hikes targeting income and businesses.<\/p>\n

\"Follow<\/a><\/p>\n

Hochul, who is currently navigating both budget negotiations and a re-election campaign, has recently leaned into policies that appeal to New York City voters, a key part of her political base. The proposal is still in the early stages and would need approval through the state budget process before becoming law.<\/p>\n

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Some hometowns are losing residents fast. Is yours on the list?<\/p>\n","protected":false},"excerpt":{"rendered":"Governor Kathy Hochul is proposing a new tax on certain homeowners in New York State. Will this impact…\n","protected":false},"author":2,"featured_media":199369,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3764,9,11,10,49,51,50],"class_list":{"0":"post-199368","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-hudson-valley-news","9":"tag-new-york","10":"tag-new-york-headlines","11":"tag-new-york-news","12":"tag-new-york-state","13":"tag-new-york-state-headlines","14":"tag-new-york-state-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/199368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=199368"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/199368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/199369"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=199368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=199368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=199368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}