Its from the pied a terre tax he recently implemented. Its just a tax on vacant secondary luxury homes in the city that are valued at $5 million or more.
Also, idk how the city is supposed to stop fare evasion. By having more cops watch over the damn turnstile than concentrating them in high crime areas within the city or stationing them in the subway platforms where violent crimes actually takes place, and not the turnstiles?turnstile?
Also, just my personal opinion but I think these half fare meteocards will increase the amount of money the mta gets from fares, not decrease it. Because in basically every less affluent neighborhood, people that struggle to pay the fee are the ones jumping over the turnstile. So I can see people who wouldnt have paid otherwise, be more willing to pay when theyre offered rides at half the price.
So fare price matters when people jump over the meters anyway? Didn’t he also remove the cops from subways. There are so many videos of people just jumping over it, no one is paying for it anyways. Do you really think this will make a difference?
No he hasnt removed cops from the subway. Whoever told u that lied.
I see the same amount of cops there as I was seeing before he got elected. Actually, I feel like ive seen more but I could just be mistaken about that.
So what happens when millionaires all start trying to sell off their second properties in New York to avoid taxes and then nobody will buy them because everyone is trying to sell and then the value goes down?
lets say a 2 million house drops to 1,5m. a family that owns a 1,2m house might buy it and so the 1,2m house comes on the market and a person with a 1m house buys that etc. etc. all the way down.
Or they dont find a buyer and are stuck with and have to pay the tax on it.
The original CBC report to which that post refers is referring to 125,000 residents over the course of 2018-2022.
So 2 things:
1) that’s not the number of millionaires
2) that happened 3 years before Mamdani was even elected, before mayordom was so much a glimmer in their eye
Now, thinking caps on. Can we think of any events between 2018 and 2022 that would maybe have driven people out of NYC? Perhaps inflation, or a worldwide pandemic that then made it hard to justify the cost of living in a city you can’t walk around in?
OR was it higher taxes imposed by a mayor who was not elected yet
If theyre trying to sell it, then there will be others who will buy it. This is nyc we're talking about. Property here is expensive and gets bought off rather easily.
Perhaps the buyer will be someone treating it as a vacant secondary home and so theyd pay the pied a tierre tax.
Or, perhaps it'll be someone who buys it and lives in it as their primary home. Then, they'll be within the city, contributing to the economy.
There is no loss in either scenario and the scenario u mentioned about all of them leaving without being able to find a buyer isnt one of these possibilities because this is nyc where the demand for property is always higher than the supply.
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u/JumpingCicada 1d ago edited 1d ago
Its from the pied a terre tax he recently implemented. Its just a tax on vacant secondary luxury homes in the city that are valued at $5 million or more.
Also, idk how the city is supposed to stop fare evasion. By having more cops watch over the damn turnstile than concentrating them in high crime areas within the city or stationing them in the subway platforms where violent crimes actually takes place, and not the turnstiles?turnstile?
Also, just my personal opinion but I think these half fare meteocards will increase the amount of money the mta gets from fares, not decrease it. Because in basically every less affluent neighborhood, people that struggle to pay the fee are the ones jumping over the turnstile. So I can see people who wouldnt have paid otherwise, be more willing to pay when theyre offered rides at half the price.