Mamdani puts wealthy absentee New Yorkers on notice: ‘You’ve got mail’

• Mayor Zohran Mamdani said those who own expensive second homes in the city should “check their mailboxes”.

• On Thursday, the city sent notification letters to properties affected by the new tax.

• The tax applies to non-prime homes valued over $5 million.

New York City Mayor Zohran Mamdani has a message for New York’s wealthy second homeowners: “Check your mailbox.”

“If you have a second home in New York City valued at more than $5 million, check your mailbox when you return to the five boroughs because you have mail,” Mamdani “Today we sent out notification letters to property owners letting them know our new tax is coming soon.”

land taxThe law, passed in May, imposes an annual tax on non-prime homes worth at least $5 million. The progressive tax starts at 0.8% and rises to 1.3% for properties valued at $25 million or more. City and state officials estimate the tax could raise $500 million a year and would apply to more than 11,000 homes.

“The best city in the world deserves the best parks, libraries and schools in the world. This can only be possible if we all pay our fair share,” Mamdani said on Thursday. he said.

The New York City Department of Finance has sent letters notifying property owners who may be subject to the tax, the mayor’s office said in a press release. The city also launched a campaign. private web page Supporting property owners with answers to frequently asked questions and a tool to help them determine whether they are tax-eligible or tax-exempt.

Controversial tax is expected to affect many sectors billionaires with second homes Including Jeff Bezos, President Donald Trump, and Jay-Z and Beyoncé in New York.

Mamdani specifically called out Citadel CEO billionaire Ken Griffin in a video promoting the tax earlier this year. Mamdani shot the video in front of a penthouse that Griffin paid $238 million for in 2019. Griffin, who lives in Miami, also has other apartments in New York.

based on Business Insider’s mathWhen Griffin checked his mailboxes, he found he owed between $1.3 million and $1.4 million on his tax bill.

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