“New York’s state Legislature is already considering a plan to impose Gotham’s pied-à-terre tax statewide
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“Merely the threat of a more hostile tax and regulatory environment has been enough to chill investment in New York City, and that’s already impacting prices,
“New York “the tip of the spear in terms of revolutionary politics” that could change the national trajectory
“No law permitted or required the City to publish such a list of the names, addresses and property values of more than 900,000 New York City homeowners, or to publicize that list through an irregular, mid-year publication
“the problem goes beyond new construction, arguing that government limits on rents can reduce the number of apartments available and discourage investment in existing properties.
“Sen. Cory Booker has legislation in the Senate to establish a commission for the purposes of studying the right way to redress the grievance — to pay the debt never paid
“this growing gap is leaving some building owners increasingly unable to cover basic operating expenses, which can lead to deferred maintenance and reduced investment in the city’s existing housing stock.
“city officials should have conducted an ‘individualized statutorily-required initial determination’ before issuing the notices to homeowners, so as to not place the burden on the property owners.