April 17, 2026
“The president and I both want the city to succeed. This is how you do it.”
President Donald Trump appears to be taking back his initial support of New York City Mayor Zohran Mamdani following the mayor announcing a tax hike on non-full-time residents.
The president responded on Truth Social after Mamdani and New York Gov. Kathy Hochul jointly announced a proposed pied-à-terre tax targeting second homes valued at $5 million or more that are not primary residences. The tax would apply only to properties that are neither owner-occupied nor rented out or used by family members.
Trump, a New York City native, views the proposed tax as a setback for his hometown.
“Sadly, Mayor Mamdani is DESTROYING New York! It has no chance! The United States of America should not contribute to its failure,” Trump wrote. “It will only get WORSE. The TAX, TAX, TAX Policies are SO WRONG,” he continued. “People are fleeing. They must change their ways, AND FAST. History has proven, THIS ‘STUFF’ JUST DOESN’T WORK.”
Mamdani remained diplomatic when responding to Trump’s social media rant.
“The president and I both want the city to succeed. This is how you do it. I’ve made it clear to the president and to the public that I am deeply supportive of taxing the rich,” Mamdani said during an April 17 press conference.
Trump’s sharp social media response comes after he struck a more positive tone about Mamdani following their first Oval Office meeting last November. The two met again at the White House in February, with both describing the conversation as productive.
However, their relationship began on rocky ground with Mamdani calling Trump a “despot” during his campaign, while Trump labeled Mamdani a “communist.”
The proposal comes as New York City faces a significant budget shortfall and tries to build on additional state support, including $1.5 billion in proposed aid for the FY2027 budget.
The measure targets ultrawealthy non-residents and global elites who treat New York City real estate as an investment rather than a home, and is projected to generate $500 million annually, a press release states.
Supporters argue the tax would ensure wealthy property owners contribute to city services, even if they don’t live there full-time or pay local income taxes.
“Thanks to the support of Governor Hochul, we are one step closer to balancing our budget by taxing the ultra-wealthy and global elites with a pied-à-terre tax — the first of its kind in our state,” Mamdani said. “Alongside the governor, our administration is fighting every day to make sure we address this fiscal deficit fairly, where the wealthy contribute what they owe and our budget reflects our commitment to the working New Yorkers being priced out of our city.”
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