nai06 said:

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Ag with kids said:

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will25u said:

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Happy Tax Day, New York. We’re taxing the rich. pic.twitter.com/Wky2LFXC9W

— Mayor Zohran Kwame Mamdani (@NYCMayor) April 15, 2026

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Well, THIS is a good way to ensure that no new construction occurs in NYC, that there are no buyers for current real estate, and that all current owners bail from the city and sell their property for pennies on the dollar to make the tax useless...

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Selling their property for pennies on the dollar won't make a difference because the sale price is not what determines the market value.

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And that will be a problem for the buyer.

And this will be a HUGE disincentive to purchasing OR owning ANY property in NYC.

But, I'm quite sure you're happy about this policy...


And, also, the "market value" will drop like a rock if you can't sell it or if you have to pay a huge tax because you own it...

YouBet said:

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I wonder if that will apply to all of the foreign property owners of NYC RE of which there is legion.

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I think so.

The tax would apply to any New York City residential property worth $5 million or more that is not the owner's primary residence, even if they live outside the state. It would also apply to investors' properties that are not rented as primary residences. Second homes or properties that are rented to full time tenants would be excluded along with commercial properties like hotels.

It looks like they are really trying to only target higher end vacation homes, second homes, and investment residential properties that are vacant for most of the year. The estimate I saw was something like 15k properties would be subject to the new property tax.

Ag with kids said:

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nai06 said:

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Ag with kids said:

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will25u said:

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Happy Tax Day, New York. We’re taxing the rich. pic.twitter.com/Wky2LFXC9W

— Mayor Zohran Kwame Mamdani (@NYCMayor) April 15, 2026

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Well, THIS is a good way to ensure that no new construction occurs in NYC, that there are no buyers for current real estate, and that all current owners bail from the city and sell their property for pennies on the dollar to make the tax useless...

---

Selling their property for pennies on the dollar won't make a difference because the sale price is not what determines the market value.

---

And that will be a problem for the buyer.

And this will be a HUGE disincentive to purchasing OR owning ANY property in NYC.

But, I'm quite sure you're happy about this policy...


And, also, the "market value" will drop like a rock if you can't sell it or if you have to pay a huge tax because you own it...

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You'll have to forgive me if I don't feel sorry for someone with multiple homes worth more that 5 million dollars having to pay a higher property tax.

2029?? Government can't do retail much less any business.

You could buy a grocery store for 2 million
You could build a grocery store for 3 million
And yet somehow, when the socialist government does it, it won’t open until 2029 and cost 30 million.
Thank you for the perfect example why socialism is always an object failure https://t.co/6i8zzwQrrL

— Jay Feely (@jayfeely) April 15, 2026

Good lord. If the government is telling you 2029, then likely means double that and there is a great chance it won't open at all.

CNBC showing last night that already 29 properties have gone on sale in NYC since the Mamdani communist grab

at an average discount of $3 million dollars below previously posted sales price

because owners trying to flee know no one will be coming in to buy their homes since then THEY will be the victims of the next marxist money grab

backintexas2013 said:

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But where do we stop? Should lol fat tubs of goo have to pay more in health insurance because they cost so much more? Should these fatties pay more Medicare tax because their laziness is going to cost society more? You want to punish the rich because they have more. Why not punish the slobs because they cost us more?

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100% I would support this!

just because you are a failure at life-

why should successful people be punished?

how is that even moral?

much less economically where your entire stupid theory of communism ensures NO ONE has money except for the ruling Red Guard party leaders.

nai06 said:

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Ag with kids said:

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nai06 said:

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Ag with kids said:

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will25u said:

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Happy Tax Day, New York. We’re taxing the rich. pic.twitter.com/Wky2LFXC9W

— Mayor Zohran Kwame Mamdani (@NYCMayor) April 15, 2026

---

Well, THIS is a good way to ensure that no new construction occurs in NYC, that there are no buyers for current real estate, and that all current owners bail from the city and sell their property for pennies on the dollar to make the tax useless...

---

Selling their property for pennies on the dollar won't make a difference because the sale price is not what determines the market value.

---

And that will be a problem for the buyer.

And this will be a HUGE disincentive to purchasing OR owning ANY property in NYC.

But, I'm quite sure you're happy about this policy...


And, also, the "market value" will drop like a rock if you can't sell it or if you have to pay a huge tax because you own it...

---

You'll have to forgive me if I don't feel sorry for someone with multiple homes worth more that 5 million dollars having to pay a higher property tax.

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What do you think determines market value? Truly curious since you said it's not sales prices and you have all these grand economic beliefs.

aggiedata said:

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2029?? Government can't do retail much less any business.

You could buy a grocery store for 2 million
You could build a grocery store for 3 million
And yet somehow, when the socialist government does it, it won’t open until 2029 and cost 30 million.
Thank you for the perfect example why socialism is always an object failure https://t.co/6i8zzwQrrL

— Jay Feely (@jayfeely) April 15, 2026

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This is because ALL socialist government projects are about funneling money to political supporters and providing jobs for key constituencies. They are NEVER about the purported primary function.

YouBet said:

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Good lord. If the government is telling you 2029, then likely means double that and there is a great chance it won't open at all.

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And the cost of the store will double as well.

What.

A.

Joke.

LMCane said:

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CNBC showing last night that already 29 properties have gone on sale in NYC since the Mamdani communist grab

at an average discount of $3 million dollars below previously posted sales price

because owners trying to flee know no one will be coming in to buy their homes since then THEY will be the victims of the next marxist money grab

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Lighting the match for urban blight.

This is doomed for failure. Some people will get rich through.

For only $30m, we can have a high visibility demonstration of the failure of socialism.

Maybe this is a good idea after all. https://t.co/RgctHydQsD

— Blake Scholl 🛫 (@bscholl) April 15, 2026

How does it take 3 years to set up a grocery store? That's literally crazy.

nai06 said:

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YouBet said:

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I wonder if that will apply to all of the foreign property owners of NYC RE of which there is legion.

---

I think so.

The tax would apply to any New York City residential property worth $5 million or more that is not the owner's primary residence, even if they live outside the state. It would also apply to investors' properties that are not rented as primary residences. Second homes or properties that are rented to full time tenants would be excluded along with commercial properties like hotels.

It looks like they are really trying to only target higher end vacation homes, second homes, and investment residential properties that are vacant for most of the year. The estimate I saw was something like 15k properties would be subject to the new property tax.

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The wealthy owners will just "rent" their property to family members to avoid the tax.

backintexas2013 said:

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But where do we stop? Should lol fat tubs of goo have to pay more in health insurance because they cost so much more? Should these fatties pay more Medicare tax because their laziness is going to cost society more? You want to punish the rich because they have more. Why not punish the slobs because they cost us more?

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The answer is simple...there are millions of fatties who vote and libs can't risk alienating them and must coddle them. Also, since most of the fatties are low income the tactic of vilifying the rich works well on them.

Mamdani Says City-Run Supermarket Will Be Ready In 3 Years But Recommends Getting In Line for Bread Now https://t.co/WkCasWh52t pic.twitter.com/k4xpsEuNjD

— The Babylon Bee (@TheBabylonBee) April 16, 2026

I'd be interested on seeing the numbers on a ground up build for a full HEB and the schedule. I know they go up a lot quicker than that and probably with a much larger footprint.

aezmvp said:

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How does it take 3 years to set up a grocery store? That's literally crazy.

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Because first you have to build a bureaucracy around it.
That's how