That's going to hurt the rich. The pied a tear tax is for people who have a second residence in New York. We've talked about it for years. The There's only 13,000 people who are going to pay this [pied a terre] tax. The tax only raises 500 million tops. Some people say no more than 200 million. 500 million is a rounding error in the city budget. It's $115 billion. (04:08)
CLAIM
Asserts that only 13,000 people will pay the pied a terre tax.
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