Commie Mamdani’s second home, a pied-à-terre, tax went into effect on July 1st. People who already paid huge real estate taxes when they bought them, and crippling annual city and state property taxes, get to pay another million or tow or four.
The taxes, or legalized communist theft, apply to billionaires, for now. Under the new law, New York City will tax second homes worth more than $5 million.
After these additional taxes are applied, the property value will decrease.
Realtor.com reports that condo owners at the high-value apartments at 432 Park Avenue could be put on the hook for at least $3 million annually. The tax bill would be on top of the $3.6 million in property taxes these owners already pay.
However, “If you come up with something that’s too complicated, you don’t get revenue right away; you just get litigation,” said Donna Olshan, president of Olshan Realty. And it is very complicated. Market values, changes in residency, and lawsuits could hold up the communist thieves’ take on this deal.
Remember how the pinko mayor singled out Ken Griffin, doxing him, despite all he has done to help New York City?
A few blocks from 432 Park is 220 Central Park South, where Mamdani recorded a video promoting the policy, gesturing up from the sidewalk to billionaire Ken Griffin’s $238 million spread on the 50th floor. (Griffin could end up owing $1 million a year, on top of the $837,000 in property tax he pays now.)
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Hochul’s office says there are 10,000 homes in New York City that would pay the tax, generating $500 million in new revenue annually.
It is so much more complicated than that. New assessments are being conducted, and people might change their registrations.
As for Ken Griffin, he has moved his entire operation, which was used to build a better New York City. It’s now in Florida.
How Mamdani Plans to Spend Taxpayer Dollars
Destroying grocery stores is one way.
The Ugandan Mayor Mamdani announced that his city-run grocery stores, which cost more than $30 million to build, are immune from property taxes and utilities.
Grocery store owners are panicking and infuriated. They say Mamdani is destroying them and their jobs.
“There’s no way we can be open. If I lose 30 percent, I’m in trouble. I won’t be able to pay the rent. I won’t be able to pay the workers. And I don’t want to lose the whole thing, whatever it’s cost me, 45 years working all my life to lose it because, you know, I’m going to be fighting against someone who was spending all our money!!”
It’s a third-world failure that the Pinko mayor brought to the city. It will destroy the competition and increasingly place the burden on taxpayers for these grocery stores.
🚨 HOLY CRAP! Ugandan Mayor Mamdani is INFURIATING his own residents after announcing city-run grocery stores that cost $30 MILLION to build, and are immune from property taxes and utilities
REAL grocery store owners are panicking and livid, saying Mamdani is destroying them AND… pic.twitter.com/gYLRHnI6GH
— Eric Daugherty (@EricLDaugh) May 22, 2026
But you will be happy to know that drag queens are flourishing on your tax dollars. Drag queen groomers receive funding that exceeds that for veteran services in communist New York City.
For the record, Drag Queen Story Hour now receives more city funding than the Department of Veterans Services.
Understand where we are. https://t.co/vwQxqBVxUK
— Hon. Vickie Paladino (@VickieforNYC) July 2, 2026
The Pinko Ugandan Indian will continue to blow up the budget.
Hon. Vickie Paladino, city councilwoman, explains the budget.
“Amazing how dishonest the Democrats are. Here’s reality. First and foremost, the bulk of this deficit was of Mamdani’s own making. He blew up the budget by an unprecedented $15 billion dollars in new spending over last year. The largest single-year spending increase ever.
“So right off the bat, our fiscal crisis was exacerbated by Mamdani’s insane spending demands. Had he simply kept spending levels approximately where they were — already a massive $110 billion dollars — we could’ve avoided most of this crisis entirely.
“Next, Mamdani didn’t close the deficit through successful leadership or any kind of fiscal discipline. He didn’t boost the New York economy and end up with a pile of money from booming businesses or new residents. He got a multibillion-dollar bailout from Albany and is raising taxes. That’s the big accomplishment Democrats are bragging about here. Higher taxes and a bailout from upstate.
“That’s success to Democrats. The rest is accounting tricks courtesy of the pliant City Council finance committee, which has been busy ‘finding’ money by revising revenue estimates upward in order to fill in the gaps. No way that’ll bite us in the future!
“And lets not forget the tens of billions that this city wastes every single year, which are going completely untouched. Nonprofits, welfare for illegals, and political activism. Not just untouchable, but set to get fat increases. That’s the real story of the budget. ‘Democrats Deliver’ indeed.”
