"New York City’s broken property tax system... undervalues high-end condos and overtaxes renters. Little of the city’s most expensive real estate is actually taxed at its market value. This creates a powerful incentive for the world’s richest people to park their money in New York City real estate and contributes to the housing crisis pricing out everyday residents."
https://www.cnn.com/2026/05/07/business/zohran-mamdani-ken-griffin-taxes
#NYC #propertytax #renters #realestate #housingcrisis #zoranmamdani #kengriffin #taxtherich #centralpark