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Hochul Proposes Tax on N.Y.C. Second Homes That Are Worth $5 Million (www.nytimes.com)

submitted 1 month ago by return2ozma@lemmy.world to c/progressivepolitics@lemmy.world

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[–] homes@piefed.world 5 points 1 month ago* (last edited 1 month ago) (2 children)

Also any first home worth more than $500k

Fuck you. If you can afford that, you can afford a tax hike. Go cry to your co-op board.

[–] chilicheeselies@lemmy.world 18 points 1 month ago (3 children)

Thats literally every home in the city ezcept maybe some studios

[–] turtlesareneat@piefed.ca 8 points 1 month ago

Hell that's most of the houses in my neighborhood and I'm in downtown Little Rock Arkansas. $500k home is not what it once was. If a house should be 3 to 5 times your salary, then a family of two incomes making $50k each are at home there. Not exactly Rothschilds.

[–] Drusas@fedia.io 6 points 1 month ago

I live in Seattle and you can't get anything habitable for under 700k, and that's maaybe.

[–] tmyakal@infosec.pub 3 points 1 month ago

I'm three hours north of the city, and $500k is still a tight budget unless you want to live ultra-rural.

[–] LibertyLizard@slrpnk.net 7 points 1 month ago* (last edited 1 month ago)

In some areas the cheapest homes are more than that. If people are scraping to afford any home they can adding a tax could be pretty damaging.

A better policy would peg the tax to some percentile of home values to target only the wealthy.