The idea of a “second-home tax” proposed by Zohran Mamdani in New York has certainly stirred up a hornet’s nest amongst the city’s elite, and frankly, their reactions are, as many see it, quite something. The sheer outcry, the pearl-clutching over what amounts to a minor imposition on their vast fortunes, is frankly, almost comical. When those who can easily afford to pay a tax express outrage, citing it as “shameful,” it’s a strong indicator that the tax is likely hitting the mark.
The core of the backlash seems to stem from a profound disconnect between the wealthy and the realities faced by the majority.… Continue reading
The idea of a significant property tax increase is being floated as a stark alternative if a proposed wealth tax fails to gain traction. This isn’t being framed as a casual suggestion, but rather as a necessary, albeit potentially painful, consequence of fiscal reality. The city, as it stands, is facing a substantial budgetary shortfall, a situation inherited and requiring immediate attention. The argument seems to be that without an alternative revenue stream like a wealth tax, the city will be compelled to explore other, less desirable options to meet its financial obligations.
The proposed property tax hike is substantial, coming in at a 9.5% increase, which understandably raises immediate concerns about affordability for residents and businesses alike.… Continue reading
To address Spain’s housing crisis, the government proposes a new tax of up to 100% on properties purchased by non-EU residents, aiming to prioritize housing for Spanish citizens. This unprecedented measure, modeled after similar policies in Denmark and Canada, targets the significant number of properties acquired by non-EU buyers for investment purposes. The plan, part of a broader housing affordability initiative, also includes tax breaks for affordable housing providers, public housing expansion, and stricter regulations on short-term rentals. Further details regarding implementation and parliamentary approval remain pending.
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Matt Underwood 
John Q. Hosedrinker