JUDGE TEMPORARILY BLOCKS MAMDANI’S PIED-À-TERRE TAX ON SECOND HOMES

A judge has temporarily blocked New York City's pied-à-terre tax, a surcharge on second homes worth over $5 million or condominiums and cooperative units worth at least $1 million, according to US news | The Guardian. This ruling comes after homeowners sued over the policy last week. The decision deals a blow to the progressive New York City mayor, Zohran Mamdani, as his office plans to appeal the ruling.

The tax would have applied to people who own but do not reside full-time in these properties, with the aim of targeting non-primary residences. The mayor's office plans to appeal the ruling, indicating a potential ongoing legal battle. Details on the lawsuit and the judge's reasoning are not fully provided in the available information.

This tax was part of an effort to address issues related to secondary homes in New York City, though the specific context and motivations behind the policy are not fully detailed in the provided sources.

• A judge temporarily blocked New York City's pied-à-terre tax on second homes
• The tax targets homes worth over $5 million or condos/co-ops worth at least $1 million
• The mayor's office plans to appeal the ruling

Read the original source for full detail available at US news | The Guardian src