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WOR Street Reporter Natalie Migliore Interviews · Curtis Sliwa & Larry Mendte In The Morning

• 0:01
  Speaker 1: Now, it's 710WOR Speed on the Street with Natalie Migliore.
• 0:08
  Speaker 2: Well, Natalie is out today talking about the pied-a-terre tax,
• 0:12
  Speaker 2: and I'm just wondering, does anybody use the term pied-a-terre?
• 0:17
  Speaker 1: I'm the one who's really asking them about it, so
• 0:21
  Speaker 1: I'm the one who has to say pied-a-terre. And then
• 0:24
  Speaker 1: I colloquially try to be like, you know, the second
• 0:27
  Speaker 1: home tax.
• 0:28
  Speaker 2: Oh, that one.
• 0:30
  Speaker 3: Yeah.
• 0:30
  Speaker 2: So, but people know about it.
• 0:33
  Speaker 1: They certainly know about it. You don't necessarily have to
• 0:35
  Speaker 1: say the second home tax for some people to be like, pied-a-terre. So,
• 0:40
  Speaker 1: a Staten Island judge is set to hear arguments today
• 0:43
  Speaker 1: in the lawsuit challenging the city's rollout of this pied-a-terre tax, which...
• 0:48
  Speaker 1: Impacts New Yorkers who own second homes, look, we got
• 0:51
  Speaker 1: two of those key terms in there, worth more than
• 0:54
  Speaker 1: $ 5 million, perplexing to many owners here in the city,
• 1:00
  Speaker 1: both past and present.
• 1:03
  Speaker 3: Happy I sold it.
• 1:04
  Speaker 2: I think it's stupid, but if that's what they have
• 1:06
  Speaker 2: to do, that's what they have to do.
• 1:09
  Speaker 3: I don't think it'll affect the regular New Yorker, but
• 1:12
  Speaker 3: obviously the people who want to have a pied-à-terre, it'll
• 1:16
  Speaker 3: make a big difference.
• 1:17
  Speaker 2: What are you hearing from the people in your building
• 1:19
  Speaker 2: about it?
• 1:20
  Speaker 3: Well, they're very upset. A lot of them, you know,
• 1:22
  Speaker 3: have been residents for 20 years, and this has been
• 1:26
  Speaker 3: their lifestyle for years. So why should they be penalized now?
• 1:30
  Speaker 3: They're paying taxes.
• 1:31
  Speaker 1: Yeah, a lot of those people in the building still...
• 1:34
  Speaker 1: she was on the board of her building, she was
• 1:36
  Speaker 1: telling me they have to figure out how that's even
• 1:39
  Speaker 1: going to work in a co-op or a condo when people,
• 1:42
  Speaker 1: you know, when the building pays collective taxes and there
• 1:44
  Speaker 1: are people with the pied-à-terre in that building. That's something
• 1:49
  Speaker 1: that's still trying to be figured out in a way. Now,
• 1:51
  Speaker 1: that's the Upper West Side. Head down to the Penn
• 1:55
  Speaker 1: Station area and you've got different opinions regarding the second
• 1:59
  Speaker 1: home tax.
• 2:00
  Speaker 3: They got it.
• 2:01
  Speaker 2: Might as well hit them, you know. Everybody else out
• 2:04
  Speaker 2: here is struggling. The middle class is struggling. You know,
• 2:07
  Speaker 2: it's no in-between no more. So somebody got to hold
• 2:10
  Speaker 2: this down. I think it's fair, but it has to
• 2:12
  Speaker 2: be very carefully set for that. You know what? I
• 2:15
  Speaker 2: got a lot to take care of in my life.
• 2:18
  Speaker 3: I'm 90, heading toward 91, and I'm not too involved.
• 2:24
  Speaker 2: There you go. Maybe that's how she got there. To her.
• 2:27
  Speaker 3: Yeah.
• 2:28
  Speaker 2: She's like, I'm not too involved.
• 2:29
  Speaker 1: Maybe that's how she got there, you know. Maybe she
• 2:33
  Speaker 1: would be more involved if she found out the city
• 2:35
  Speaker 1: sent at least 1,200 notifications, if not more, about this
• 2:40
  Speaker 1: tax to the wrong people. That's after the city reduced
• 2:44
  Speaker 1: the number of impacted residents from 17,000 to about 11,000.
• 2:49
  Speaker 1: When New Yorkers are asked if it's a rushed rollout.
• 2:52
  Speaker 3: It's negligence on his behalf, of his administration.
• 2:55
  Speaker 4: It's just negligence.
• 2:57
  Speaker 3: It's like being passed over. Totally a mix-up. And I
• 3:01
  Speaker 3: can tell you from the perspective of one of the
• 3:03
  Speaker 3: board members in the building I'm in that they were,
• 3:07
  Speaker 3: everyone was upset and misunderstanding it. It was just a
• 3:11
  Speaker 3: stupid thing. And the whole thing is really not properly handled.
• 3:16
  Speaker 2: Yeah.
• 3:16
  Speaker 1: And then it's not even really in place yet.
• 3:19
  Speaker 2: Obviously, they're trying to get it in place.
• 3:21
  Speaker 1: Now, the tax is expected to raise $ 500 million additional
• 3:25
  Speaker 1: for the city's budget.
• 3:26
  Speaker 2: But will it be.
• 3:28
  Speaker 1: Abused or will it be put to good use to
• 3:30
  Speaker 1: improve the quality of life for New Yorkers?
• 3:33
  Speaker 3: I wish it would, but that's not the way the
• 3:36
  Speaker 3: money flows.
• 3:37
  Speaker 2: It never does. I hadn't seen it yet. And I'm
• 3:40
  Speaker 2: a senior, senior girl.
• 3:42
  Speaker 3: You know, you don't have to go too much more
• 3:43
  Speaker 3: further for you to understand what the outcome will be.
• 3:46
  Speaker 3: So all you guys just stick around for the next
• 3:50
  Speaker 3: voting series.
• 3:52
  Speaker 2: The next election. Now, just a slight correction.
• 3:55
  Speaker 4: When it comes to the condos and co-ops, if it's
• 3:58
  Speaker 4: worth the unit itself a million dollars or more, but
• 4:01
  Speaker 4: you are correct. The taxes get based on the collective worth.
• 4:05
  Speaker 4: So let's say you went Chapter 11 on a condo.
• 4:10
  Speaker 4: That lowers everybody's equity. Same thing with a co-op. So
• 4:14
  Speaker 4: it's almost like a cheese box, you know, when you
• 4:17
  Speaker 4: have the cheese box in the cheese box out like
• 4:20
  Speaker 4: an accordion. Right. So they get measured a little differently
• 4:24
  Speaker 4: than the people who own a three family, two family
• 4:27
  Speaker 4: or one family home.
• 4:28
  Speaker 2: It's got to be worth more than five million dollars.
• 4:31
  Speaker 1: Do you think it's going to work?
• 4:33
  Speaker 4: They'll get their money, but there'll be a lot of
• 4:35
  Speaker 4: complaining along the way. So we'll see, though. They have
• 4:38
  Speaker 4: a favorable judge, Randy Mastro, who is the opposition. He's
• 4:43
  Speaker 4: a conservative Democrat judge. you almost can't find any of
• 4:48
  Speaker 4: those any longer, who I think will be making the
• 4:52
  Speaker 4: determination for now, and then it has to go up
• 4:54
  Speaker 4: to the appellate court, and it goes on and on
• 4:56
  Speaker 4: and on.
• 4:57
  Speaker 2: So it could be some time before this hits, right?
• 4:59
  Speaker 3: Yeah.
• 5:00
  Speaker 4: Ozzie, I think, is the guy who makes the decision today.
• 5:02
  Speaker 4: Ozzie is the guy you want to go to when
• 5:06
  Speaker 4: you want a Democrat because he leans conservative.
• 5:10
  Speaker 3: Interesting.
• 5:10
  Speaker 4: Interesting.
• 5:11
  Speaker 1: But I think that when it comes to just New
• 5:13
  Speaker 1: Yorkers on the street, when they hear it, if you
• 5:16
  Speaker 1: don't have money, or I don't want to say if
• 5:18
  Speaker 1: you don't have money, but if you're not sitting in
• 5:20
  Speaker 1: that upper echelon of society, to them, it's, you know,
• 5:24
  Speaker 1: get hit with it. But, you know, it's almost this
• 5:26
  Speaker 1: idea of the rich get richer and the poor get poorer.
• 5:29
  Speaker 1: So there's this, you know, but only a few people, right?
• 5:36
  Speaker 2: Yeah, because they ain't getting the money. There's already a
• 5:39
  Speaker 2: hole in the budget. Exactly. There's a big deficit. That's
• 5:41
  Speaker 2: where the money's going to go.
• 5:42
  Speaker 1: But that money goes to services to service these people.
• 5:45
  Speaker 1: That's like the argument of people like, give it to us.
• 5:48
  Speaker 1: That guy on the street who was like, hit it
• 5:51
  Speaker 1: and let them hold us up. That was his argument
• 5:53
  Speaker 1: in a sense. You know, you get the bites of
• 5:55
  Speaker 1: the people, but you get into deeper conversations.
• 5:57
  Speaker 4: But you notice some of the other people were saying,
• 5:59
  Speaker 4: I don't trust... That that money's going to go anywhere. Right.
• 6:02
  Speaker 2: And it won't.
• 6:03
  Speaker 1: With everything.
• 6:04
  Speaker 2: With anything in this city, right?
• 6:07
  Speaker 1: Everybody's speculating or skeptical of where the money actually goes.
• 6:12
  Speaker 2: Yeah. With any topic we do. Well, they should be.
• 6:15
  Speaker 2: The budget keeps going up and up and up and
• 6:18
  Speaker 2: services don't seem to be getting any better. Natalie Migliore
• 6:21
  Speaker 2: is going to be back the same time tomorrow with
• 6:24
  Speaker 2: her beat on the street.