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News
Everyone wants to ‘tax the rich.’ In New York City, it’s getting complicated
1+ mon, 1+ day ago (660+ words) What seemed at first like an easy idea — slapping a new tax on people who own luxury second homes in the Big Apple but live elsewhere most of the year — has instead created a lot of confusion in the city’s…...
New York tax collectors to farm pied-à-terre data for scofflaws
1+ mon, 1+ week ago (347+ words) (The Center Square) – State tax collectors in New York will be thumbing over data provided to New York City as part of its new tax on second homes in an effort to root out tax cheats. The Hochul administration said…...
New York ranks among states with the most financial distress - AOL
1+ mon, 1+ week ago (418+ words) New York ranked among the states with the highest levels of financial distress, according to a recent WalletHub study. The study placed New York in the highest quartile for overall financial distress, ranking No. 16 among all 50 states for the number…...
More taxpayers are leaving New York than moving in, new reports show
1+ mon, 2+ week ago (635+ words) New York continues to lose more taxpayers than it gains through migration, while the state also remains one of the nation's highest-taxed, according to separate reports from the state comptroller and the Citizens Budget Commission. The reports point to continued…...
Hochul confronted on study showing millionaire exodus in New York City
1+ mon, 4+ week ago (644+ words) 'Good Day New York' anchor Rosanna Scotto warns that high earners are fleeing New York City due to 'Tax the Rich' policies, costing the city $10.7 billion in lost tax revenue. A Citizens Budget Commission study revealed New York's share of…...
New York’s socialist mayor abandons property wealth tax
4+ mon, 1+ day ago (412+ words) The mayor of New York City has scrapped his plans to raise property taxes on expensive second homes after angering local millionaires and billionaires. Zohran Mamdani had threatened to raise taxes on properties worth more than $5m (£3.7m), hitting 0.4pc of the city’s…...
Albany Sending $4 Billion To Cash-Strapped New York City
4+ mon, 2+ day ago (101+ words) More big bucks are heading to Albany. In a news release issued Tuesday, state Gov. Kathy Hochul and Mayor Zohran Kwame Mamdani announced new state support and actions to help New York City close its budget deficit ahead of the…...
‘Still incomplete': Key questions unanswered on New York state budget
4+ mon, 6+ day ago (935+ words) Published May 7, 2026 at 3:56 p.m. ET Gov. Kathy Hochul says she’s reached a “general agreement” on a New York state budget — but major policy proposals still aren’t settled, including Democrats’ plan to tax pieds-à-terre in New York City. The Democratic governor said…...
Billionaire Bill Ackman: If Mamdani’s goal is to make New York ‘financially solvent’ he shouldn’t ‘drive out the Ken Griffins of the world’ - AOL
4+ mon, 1+ week ago (711+ words) New York City's future may hinge on a simple but uncomfortable question: Can it afford to lose its richest residents? Billionaire investor Bill Ackman doesn't think so. And he's making that case amid a growing political chorus demanding new taxes…...
New York City lost residents across all income levels last year, study finds
4+ mon, 3+ week ago (458+ words) New York City lost more residents than those that moved in last year, according to a new study from the Citizens’ Budget Commission released Monday. The Citizens Budget Commission reported that the city’s overall population declined in 2025. The study explained…...