Amid billionaire exodus, NYC's Mamdani tells $5M homeowners: Check your mail

New York City Mayor Zohran Mamdani is moving ahead with a new tax on expensive second homes despite a continuing exodus of wealthy residents from New York. In a recent post on X (formerly known as Twitter), Zohran Mamdani said owners of second homes in New York City worth more than $5 million should "check your mailbox" because the city has started sending notification letters about its upcoming pied-à-terre tax. "If you have a second home in New York City worth more than $5M, check your mailbox when you're back in the five boroughs — because you've got mail," Mamdani wrote in the post dated July 24."Today, we sent notification letters to property owners, letting them know that our new pied-à-terre tax is coming soon."In this post, the New York mayor said the tax is aimed at helping fund public services across the city.