Donald Trump criticises Zohran Mamdani over proposed pied-à-terre tax on luxury properties
April 17, 2026: Donald Trump has sharply criticised New York’s proposed pied-à-terre tax, accusing Mayor Zohran Mamdani of “destroying” the city. In a post on Truth Social, Trump warned that the policy would worsen economic conditions, claiming people were already leaving and urging city leaders to change course quickly.
The controversy centres around Mamdani’s proposal to introduce a pied-à-terre tax, which would impose an annual surcharge on luxury residential properties valued above $5 million that are not used as primary homes. The tax targets wealthy individuals who invest in New York real estate without residing there full-time. The term “pied-à-terre,” derived from French, refers to a secondary residence used occasionally rather than as a main home.
Backed by Kathy Hochul, the proposed tax could generate an estimated $500 million annually and apply to around 13,000 properties. The plan is part of a broader effort to address the city’s budget gap and fund social programmes, though details such as the final rate structure are still under discussion.