Mamdani gleefully taunts wealthy New Yorkers with ‘you’ve got mail’ as luxury-home tax kicks in

New York City Mayor Zohran Mamdani is celebrating the arrival of a new annual tax on luxury second homes with all the subtlety of a process server grinning through the window.

The city has begun sending notification letters to thousands of property owners who may soon owe the state’s first pied-à-terre tax, a surcharge targeting New York City residences worth more than $5 million that are not used as their owners’ primary homes.

Mamdani announced the mailing on social media with a message aimed directly at wealthy property owners.

“If you have a second home in New York City worth more than $5 million, check your mailbox when you’re back in the five boroughs—because you’ve got mail.”

He continued:

“Today, we sent notification letters to property owners, letting them know that our new pied-à-terre tax is coming soon.”

Mamdani framed the levy as an obligation owed by affluent homeowners to the city.

“The best city in the world deserves the best parks, libraries, and schools in the world,” he wrote. “That’s only possible when we all pay our fair share.”

The tax was enacted as part of the state budget signed by Democratic Gov. Kathy Hochul in May. It applies to one-, two- and three-family homes, condominiums and co-ops valued at $5 million or more when the owner maintains a primary residence outside New York City.

The annual surcharge starts at 0.8% and rises through several brackets to 1.3% for properties valued at $25 million or more.

City officials estimate that approximately 11,000 to 11,200 residences may fall within the tax’s reach. The Department of Finance has also launched a webpage and eligibility tool for owners seeking to determine whether their properties are covered or qualify for an exemption.

Mamdani and Hochul first announced the plan in April, describing it as a way to close the city’s budget gap without increasing taxes on ordinary New Yorkers.

The mayor said at the time:

“Thanks to the support of Governor Hochul, we are one step closer to balancing our budget by taxing the ultra-wealthy and global elites with a pied-à-terre tax—the first of its kind in our state.”

He said his administration was working to ensure:

“The wealthy contribute what they owe and our budget reflects our commitment to the working New Yorkers being priced out of our city.”

Hochul was equally blunt.

“If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker.”