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Mamdani’s billionaire tax plan may have a loophole

Posted on May 8, 2026
By CNN
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1 min read

Mamdani’s billionaire tax plan may have a loophole

Amid the controversy over New York City Mayor Zohran Mamdani’s plan to tax second homes of the city’s wealthiest, CNN’s Katherine Koretski explains why the city’s most valuable homes are already benefiting from a loophole.