Pieds-à-terre tax

A sliding scale tax on pieds-à-terre with a value above $5 million, has been proposed in New York. For the non-French speakers this is a tax on second homes that are not a primary residence.  Similar to San Diego above.

A similar plan to tax high value second homes failed in 2019. However, the 2019 plan also  applied to condos valued above $300,000. The real estate industry was opposed in 2019. The New York Times distinguishes this proposal as a new and different political environment.