Uploaded August 2026 | Updated September 2026, 2 weeks ago
A state court judge issued a restraining order against New York City, temporarily blocking the rollout of Mayor Zohran Mamdani's new pied-à-terre tax. #nyc #mamdani #newyork #news #usa
The suing homeowners claimed the city caused "mass confusion" with its identification of properties subject to the tax and said the city's request for exemptions illegally shifts its responsibility to correctly identify taxable properties.
The city plans to appeal the ruling, with a spokesperson saying they are "confident in both the pied-à-terre surcharge and the City's ability to implement it fairly and effectively."
Read more: bloomberg.com/news/articles/2026-08-10/mamdani-s-nyc-pied-a-terre-tax-temporarily-blocked-by-judge
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A state court judge issued a restraining order against New York City, temporarily blocking the rollout of Mayor Zohran Mamdani's new pied-à-terre tax. #nyc #mamdani #newyork #news #usa
The suing homeowners claimed the city caused "mass confusion" with its identification of properties subject to the tax and said the city's request for exemptions illegally shifts its responsibility to correctly identify taxable properties.
The city plans to appeal the ruling, with a spokesperson saying they are "confident in both the pied-à-terre surcharge and the City's ability to implement it fairly and effectively."
Read more: bloomberg.com/news/articles/2026-08-10/mamdani-s-nyc-pied-a-terre-tax-temporarily-blocked-by-judge
----------
Like this video? Subscribe youtube.com/@Bloomberg-News
Bloomberg News is the first word in business news. Visit bloomberg.com for the latest on global business, markets and more.
Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: bloomberg.com/subscriptions?in_source=YoutubeOriginals
Bloomberg on YouTube:
youtube.com/@business
youtube.com/@markets
youtube.com/@BloombergTechnology
youtube.com/@BloombergPodcasts
Connect with us on social:
instagram.com/bloombergbusiness
linkedin.com/company/bloomberg-news
tiktok.com/@bloombergbusiness
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