Trump warns that New York's proposed luxury property tax could trigger wealthy resident exodus

Former President Trump cautioned that New York's new pied-à-terre tax, championed by Governor Hochul and other state officials, risks prompting affluent residents to relocate from the city. The tax targets owners of second homes, with supporters arguing it addresses housing affordability and generates state revenue. Trump's warning reflects broader concerns among wealthy individuals about the policy's economic impact on New York.