Home of Elsa Peretti
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Home of Elsa Peretti
Mayor Mamdani and Governor Hochul have secured New York state’s first tax on luxury second homes, calling it a major win for taxing the rich.
"If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker,” - Hochul
The annual fee applies to homes worth more than $5 million for owners who mostly do not live in New York full time. It is aimed at ultrawealthy people who use New York real estate to store wealth without actually living here. The plan will raise more than $500 million a year.
A restored 1920s home in an idyllic location south of Stockholm
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In the Arctic, some Thule Inuit families built winter homes from stone, sod, skins, and huge whale bones. With few trees around, whales gave them food, tools, and even roof beams.
Tony Duquette's Home in Dawnridge, Beverly Hills, California (built 1949)