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Story summary
- Andrew Cuomo says the new pied-à-terre tax and a $5 million luxury-home surcharge are driving wealthy residents to low-tax red states.
- The Citizens Budget Commission reported a net loss of 114,000 New York City residents in 2025.
- Mayor Zohran Mamdani and Governor Kathy Hochul say the tax will generate $500 million for childcare, street cleaning and safety.
- Cuomo urged officials to repair potholes, clean streets, and stop demonizing corporations and the rich.
