CNBC
Mamdani's NYC pied-à-terre tax can continue rollout during court appeal
Thursday, August 13, 2026
A New York state appeals court allowed New York City's pied-à-terre tax to proceed during legal challenges. Mayor Zohran Mamdani championed the tax, which imposes an annual levy on residential properties worth over $5 million that are not primary residences. President Donald Trump stated the tax must be stopped and said he would explore federal options to halt it.
Original reporting: https://www.cnbc.com/2026/08/13/mamdani-nyc-pied-a-terre-tax-lawsuit.html