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Why New York Is Doubling Down on Second Home Taxes
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Subscribe28 MAY 2026 / ECONOMY
New York and Florida are redefining property taxes in diametrically opposed ways. New York has imposed a "pied-à-terre" tax on luxury second homes, potentially generating $500 million annually, while Florida Governor Ron DeSantis proposes to gradually eliminate property taxes on primary homes. These changes reflect the national affordability debate and question who should bear the cost of living in America, marking a shift in state taxation strategies.
For years, property taxes sat in the background like the office copier. Everyone complained about them, nobody loved them, and most people assumed they’d always be there humming away. Then New York and Florida decided to flip the script from opposite dire...
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