Mamdani just gave wealthy homeowners more time to avoid his pied-à-terre tax

New York City Mayor Zohran Mamdani extended the deadline for homeowners to apply for an exemption from his pied-à-terre tax until September 18. The tax targets secondary properties in NYC valued over $5 million owned by residents living elsewhere, aiming to generate $500 million annually to address the city's budget shortfall. Critics, including wealthy residents and President Donald Trump, have opposed the tax, citing confusion and difficulty in the exemption process.