NYC Pied-à-Terre Tax Fails to Drive Significant Real Estate Mobility

NYC's pied-à-terre tax likely won't be enough to get people moving. That won't stop some towns from trying.

New York, New York. SeanPavonePhoto/Getty Images/iStockphoto This post originally appeared in the Business Insider Today newsletter. You can sign up for Business Insider's daily newsletter here. NYC's pied-à-terre tax is proving to be a pain in the penthouse for the rich. Death and taxes are the two guarantees in life, but the latter has been a bit more negotiable for the rich. (And they're working on the former, too.) However, Mayor Zohran Mamdani's tax on NYC's second homes is proving dif...