05-15-26 Part One - Flooding The Market
In part one of Red Eye Radio with Gary McNamara and Eric Harley, the trigger point for a controversial new tax on luxury second homes in New York City could be lowered from $5 million to $1 million of a property’s assessed value — potentially squeezing even more homeowners. Gov. Kathy Hochul’s office finally spilled details on her and Mayor Zohran Mamdani’s envisioned pied-à-terre tax Thursday, revealing a convoluted two-phase plan that could ultimately lead to drastic changes to the city’s unloved property tax system.
Also House Judiciary Committee Chairman Jim Jordan tussled with…
The skinny
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