With no chance to pass, de Blasio passes on luxe apartment tax

Mayor de Blasio isn’t going to support a luxury tax on apartments valued at $5 million or more that are owned by absentee landlords because it doesn’t stand a chance in Albany, according to sources.


“My understanding is a luxury tax for absentee landlords is not going forward,” said one source. “The absentee-landlord tax is a nonstarter.”


The idea was floated in September by the liberal Fiscal Policy Institute, which estimated the city could raise $655 million a year by adding a property tax surcharge of 0.5 to 4 percent on apartments valued at $5 million or more.

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