By Nicolette Cavallaro
Staten Island Advance, N.Y.
(TNS)
STATEN ISLAND, N.Y. — New York Gov. Kathy Hochul pushed back on suggestions that state-approval of the pied-à-terre tax represents a concession to progressive Democrats in New York City, saying the measure was designed to ensure wealthy property owners contribute to city services.
The second home tax applies to condominiums and co-ops valued at $1 million or more that are not used as primary residences. It also covers one- to three-family homes valued at more than $5 million that are not used as primary residences.
During a CNN News Central interview this week, Hochul was asked about the growing influence of progressive Democrats following recent primary victories, including that of New York City Mayor Zohran Mamdani, a democratic socialist.
CNN’s Omar Jimenez asked Hochul how she works with Democrats who have come to power from the party’s left flank and later questioned whether New York’s tax on luxury second homes was an example of compromise with progressives.
Hochul rejected that characterization, stating that she is a representative for her voters and would work with whoever is elected to deliver results for New Yorkers.
“… I actually respect the will of the voters, and I’ll work with whomever the voters want me to work with,” Hochul said.
Recommended Articles
When Jimenez pointed to Hochul’s previous resistance to raising taxes on wealthy residents and corporations because of concerns they could leave New York, the governor said the second-home tax is fundamentally different.
“I said I don’t support increasing taxes on corporations who can leave or on individuals,” she explained. “But what I do support is saying that those who are able to afford a second home worth over $5 million but do not make New York City your home, you’re benefiting from police and fire protective services, and are maintaining our roads, and during snowstorms and in the summer. So why aren’t you contributing to this?”
City Hall projects that the tax will raise $500 million annually, though some financial experts have suggested that number could be lower.
Hochul did not completely rule out a compromise in supporting the tax also said it is not an ideological shift. She said it is designed to provide New York City with an extra source of revenue at a time when city leaders are grappling with budget pressures.
“I did this to help the City of New York, which I also represent, get through a financial crisis,” Hochul said. “The mayor did inherit a real fiscal mess and he had to plug a hole.”
Photo credit: Governor Kathy Hochul/Facebook
_______
© 2026 Staten Island Advance, N.Y. Visit www.silive.com. Distributed by Tribune Content Agency LLC.
Sign in to get access to this free resource, and all of our whitepapers and reports.
Download this content today!
Register Now Already registered? Click here to Log In
