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New Taxes Cooled London’s Housing Market. Could That Happen in New York?
T
The New York Times
April 25, 2026
Market TrendsSource: GNews
Economists and real estate agents are calling London’s taxation of wealthy property owners a cautionary tale for New York, where leaders have endorsed a second-home tax.
Gov. Kathy Hochul’s plan for a yearly surcharge on second homes in New York City worth $5 million or more could be an elegant political move — one that taxes the rich who don’t live in the city full-time.
If approved, the so-called pied-à-terre tax w... [1484 chars]
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Originally published by The New York Times
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