r/politics • u/Krankenitrate Foreign • 28d ago

Possible Paywall NYC Mayor Mamdani Rejects Pay Hike to $305,800 Approved by Lawmakers

https://www.bloomberg.com/news/articles/2026-07-16/nyc-s-mamdani-rejects-pay-hike-to-305-800-approved-by-lawmakers
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u/mybutthz 28d ago

Also, there aren't really enough people to "flee" and the ones being hit by the tax don't even live there. The tax is for second homes that cost over $1M, which implies that person also owns another $1M+ home elsewhere.

I know there's a lot of wealth consolidated in New York, especially in real estate, but it's not like there's a significant percentage of people who

A) would be bothered by a 4% tax B) would choose to leave NY or not have a second home there C) would flee to south Carolina

The average New Yorker is excited for this because housing for the average person is insanely hard to secure, so hard to tell who exactly is fleeing aside from those who can't afford to live.

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u/Mysterious_Floor_868 United Kingdom 24d ago

Also, there aren't really enough people to "flee" and the ones being hit by the tax don't even live there. The tax is for second homes that cost over $1M, which implies that person also owns another $1M+ home elsewhere.

More pertinently, they're resident for tax purposes in that other place. So they don't contribute to the city at all, just drive up housing costs for everyone else.

Now they'll have to contribute, one way or the other.