NYC's pied-à-terre tax likely won't be enough to get people moving. That won't stop some towns from trying.

New York City's new pied-à-terre tax, championed by Mayor Zohran Mamdani, is proving difficult for wealthy second-home owners to avoid. Attorneys and accountants advising the ultra-wealthy say there are few loopholes, and their role often involves managing clients' frustration. The tax comes amid rising rents and affordability concerns in the city, where sympathy for those who can afford second homes is limited.

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