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DAILY NEWS --Be grateful I have a NYC pied-à-terre
September 26, 2014
A Torontonian with an apartment in New York City says she's taxed enough already
My husband and I live in Toronto, but we have a pied-à-terre on the Upper West Side because we love the city’s activities and vibe. There are an estimated 89,000 people like us who own but primarily reside in the city’s outskirts or beyond.
This week, the liberal Fiscal Policy Institute backed the idea of imposing a pied-à-terre tax on temporarily occupied residences worth more than $5 million. State Sen. Brad Hoylman says he’ll introduce legislation in Albany. City Council Speaker Melissa Mark-Viverito has called the idea “interesting,” and Mayor de Blasio said he’d look into it.
Hold on. Slow down. This is bad economics that risks sending us down a slippery slope.