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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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[–] 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.