Mamdani's tax on 2nd home luxury real estate market

Mamdani's pied-à-terre tax is one month old — and Manhattan's luxury market is already paying the price

Mayor Zohran Mamdani's new tax on high-end second homes took effect July 1, and real estate brokers say it is already freezing buyers, inflating the luxury rental market, and pushing wealthy purchasers out of New York City altogether.

A month into the policy, the picture emerging from Manhattan's brokerage offices is blunt: international buyers are walking away from signed deals, sellers are listing properties they once planned to keep, and six-figure-a-month rental units are filling up with people who would have bought if the city had not added a new annual bill on top of already steep property taxes.

The tax applies to second homes valued above $5 million, starting at a 4-percent annual rate and climbing to 6.5 percent under the first phase of the plan. A second phase, set for the 2028, 29 tax year, will change how the levy is calculated, details the city has not yet made public.

The policy's supporters frame it as a way to make billionaire absentee owners pay their share. But the brokers who move these properties every day describe something different: a market recoiling from a tax that adds hundreds of thousands of dollars in annual carrying costs to units that already generate enormous revenue for the city treasury.

A Madrid buyer walked away from an $8.9 million condo in eleven days.

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California Wealth Tax

California Democrats buck Newsom and Becerra with vote to endorse billionaire wealth tax

California's Democratic Party resolutions committee voted to recommend endorsing a one-time 5% tax on the state's roughly 200 billionaires, defying both outgoing Gov. Gavin Newsom and gubernatorial nominee Xavier Becerra, who oppose the measure.

The committee's Saturday vote puts Proposition 40, formally titled the California 2026 Billionaire Tax Act, one step closer to an official party endorsement ahead of the November 3 ballot.

But the recommendation is not final. Full endorsement requires at least 60% of delegates to approve it during Sunday's general session, where delegates could also vote to take no position, a move that needs only a simple majority, or pull the recommendation for a separate floor debate.

Either way, the committee's action exposes a sharp rift inside California's ruling party over how far Sacramento should go in taxing its wealthiest residents, and whether doing so would protect state programs or simply chase money across state lines.

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I'm sure these bozos knew exactly how the Democratic Party would vote.

Proposed Municipal Service Taxing Unit

👮🏼‍♂️ Outcast: Bradshaw budget faces the boot

"Like a teenager who has outgrown his childhood bedroom, the $1.2 billion budget for the Palm Beach County Sheriff’s Office has gotten so big it may need to move out on its own.

County commissioners, frustrated by state officials claiming they squander property tax money while praising Sheriff Ric Bradshaw’s spending, are proposing a municipal service taxing unit, or MSTU, to separate the sheriff’s budget from everything else.

Why it matters: The move would sharply reduce the cost of the sheriff’s services for city residents, while increasing it for residents of unincorporated areas. It would force the sheriff to justify annual increases to residents who would see a direct impact on their pocketbooks.

What they’re saying: “It’s the county’s responsibility to fund the budget for law enforcement services,” Bradshaw said in a statement declaring no objection to the proposal. “It’s their decision which method they choose to accomplish this. I only oppose not getting properly funded.”

The county budget would still cover the sheriff’s costs to run jails, secure the courts and analyze crime data.

Expenses for patrolling unincorporated portions of the county, which total hundreds of millions of dollars, would fall to the MSTU. Residents of Palm Beach Gardens, West Palm Beach, Boca Raton and any other city with its own police force would pay for those universal services through the county tax but would get a lower county tax bill because they wouldn’t be part of the MSTU.

Those who live in the 12 cities, including Lake Worth Beach, Greenacres and Wellington, that have contracts with the sheriff’s office for law enforcement, also would not be part of the MSTU.

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Lowering the tax burden for Florida families

Democrats and their afordability buzz word

"Plenty of politicians talk a big talk on making life more affordable. Democrats particularly use the word a lot, but, charitably speaking, they don’t seem to know what it means. All Democrat policies make life more expensive.

But Florida Republicans are laser-focused on making Florida more affordable for families with very real solutions, not just talk. While inflation is down, living costs remain high across the country from Joe Biden’s crushing inflation rates.

So Florida Republicans have put on the ballot in November a Constitutional amendment that would dramatically cut property taxes for homeowners. If 60 percent of voters approve it, this will be money that stays in the pockets of millions of Floridians. This is not just a slowed increase in costs, but actual, tangible cuts.

This is what conservative leadership looks like — lowering the tax burden on homeowners, and limiting the growth of government and all of its intrusive costs.

We will now be fighting to get it passed in November against some very entrenched interests that are vested in endless gobs of taxpayer money."

Evan Power, Chair of the Florida GOP

Trump governs for American families and workers

Trump Rolls Back Biden-Era Refrigerant Regulations

Projecting $2.4 Billion in Savings for Americans

Every week, millions of Americans walk into their local grocery store and wince at the total. Chicken costs more. Milk costs more. A bag of frozen vegetables somehow feels like a splurge. Washington loves to blame supply chains, labor shortages, and global instability. But what if one of the real culprits has been hiding in plain sight — buried in the fine print of obscure EPA rules that most shoppers have never heard of?

Here’s what the Biden administration never wanted you to consider: regulation is a stealth tax. It never appears on your receipt, but it inflates the price of everything it touches. One administration believed that federal bureaucrats should dictate how grocery stores cool their produce, down to the chemical compounds inside their refrigeration units. The other believes Americans deserve relief, not more red tape from Washington.

The Biden-era rules at issue — the Technology Transitions Rule and the Emissions Reduction and Reclamation Rule — restricted the use of hydrofluorocarbons in refrigeration, air conditioning, and heat pumps. Sounds like routine environmental policy, right? In reality, it landed like a sledgehammer on independent businesses.

These mandates didn’t just require swapping out a refrigerant. Piggly Wiggly owner Kevin McDaniel made that crystal clear at the White House: “It’s just not a refrigerant change, it was an equipment change.” We’re talking millions of dollars per store. “We want to thank President Trump for rolling this terrible Biden legislation back,” McDaniel said, “because without it, there would have been a lot of independents out of business.”

Deregulate, and companies compete to lower prices. Funny how that works.

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Mamdani's Tax Day

Mamdani’s Tax Day Vid Backfires as Businesses Look to Escape New York

New York City Mayor Zohran Mamdani is already having success in redistributing wealth, right out of his city.

It seems the socialist mayor’s creepy video celebrating Tax Day and directly calling out billionaire CEO Ken Griffin as a target for a new pied-à-terre tax may have backfired.

While the slickly produced video—where he gleefully spoke about taxing the “rich”—may have been good short-term politics, it could ultimately create a financial doom cascade for a New York City already facing a “historic” budget crisis.

According to a report in the New York Post, Griffin and other “billionaire bigwigs” are earnestly considering leaving the city, or at the very least looking to make future investments elsewhere.

“The splashy one-two punch of Citadel CEO Ken Griffin and Apollo Global Management honcho Marc Rowan pledging to expand outside New York City has been coupled with a silent wave of businesses ‘quiet quitting’ the city over its hostile environment,” according to the Post.

Sharon Simmons and the No Tax on Tips Refund That Changed Her Family

A DoorDash Grandma Delivered McDonald’s to the Oval Office and Told Trump One Amazing Story About $11,000

A grandmother from Arkansas is delivering food to pay her husband's cancer bills

Trump just handed her $11,000 back even though every Democrat in Congress voted to stop him. And she knocked on the Oval Office door two days before Tax Day to thank him personally.

Sharon Simmons and the No Tax on Tips Refund That Changed Her Family. Sharon Simmons has been driving for DoorDash since 2022. She's completed more than 14,000 deliveries. She's a grandmother of ten.

Her husband Leo reduced his work hours to undergo cancer treatment, leaving her tips as the family's primary financial lifeline.

On Monday, she pulled up to 1600 Pennsylvania Avenue in a red "DoorDash Grandma" T-shirt carrying two bags of McDonald's. Trump opened the Oval Office door. "This doesn't look staged, does it?" he quipped to the gathered press – and pulled $100 from his pocket to tip her.

The real number, though, was $11,000. That's what Simmons said she saved this tax season under the No Tax on Tips provision Trump signed into the One Big Beautiful Bill on July 4, 2025.

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President Trump ends trade discussions with Canada

Trump Ends Trade Talks with Canada

President Donald Trump said Friday he is “terminating” all trade discussions with Canada, effective immediately, because of its Digital Services Tax, and that he would announce new tariffs on the country within the next seven days.

“We have just been informed that Canada, a very difficult Country to TRADE with … has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country,” Trump said in a Truth Social post.

The decision came after Canada refused to delay the implementation of the tax for 30 days while the two countries negotiate a trade deal, White House National Economic Council Director Kevin Hassett said Friday afternoon on Fox Business Network. “They’re taxing American companies who don’t necessarily even have a presence in Canada,” Hassett said, calling the tax “almost criminal.”

A White House official said the president was “rightfully” angry. “We had been negotiating with Canada for them to lower their trade barriers, and then they go and erect a brand new one,” said the official, who was granted anonymity to discuss a sensitive issue. “So it’s obviously not helping their case.”

First payments are due Monday, but because the bill applies retroactively, U.S. companies such as Amazon, Google and Meta could be faced with a bill up to $3 billion, according to the Computer & Communications Industry Association.

Read about it... and Canada taking advantgage of American corporations with a Digital tax.

Lake Worth Beach: Millage and Debt rate

Property Millage rate

Pursuant to §200.065(2)(b), Florida Statutes, the City must advise the Palm Beach County Property Appraiser of the proposed Operating Millage Rate, as well as the date of the City’s first public hearing on the tentative Operating Millage Rate and budget (which is scheduled for September 11, 2025).

The proposed Operating Millage Rate approved by this Resolution establishes the maximum millage rate the City may consider and approve during the public hearings in September. The proposed Operating Millage Rate may be lowered by the Commission at the hearings, but it cannot be raised without additional notice being provided to each taxpayer at a cost of approximately $20,000 for postage.

Based on information from the Palm Beach County Property Appraiser’s Office, the FY 2025 Operating Roll Back Millage is 5.1183. This Operating Roll-Back Millage is the millage rate that will generate the same property tax revenue that was generated in FY 2025.

With the inclusion of the County Fire MSTU millage 3.4581, the maximum available Operating Millage cannot exceed 8.9526 mills. This year continues a trend with an increase in the taxable value of real and personal property of approximately 7.4%.

The City is ignoring the roll-back millage and the rate they will adopt will result in an increase in the actual tax revenues collected and will be 5.4945 mills plus MSTU of 3.4581.

The City is required to hold two (2) public hearings for adoption of a property tax rate and budget. The first public hearing is advertised by the Property Appraiser mailing to each property owner on a TRIM notice.

The Voter Approved Debt Rate may be lowered by the Commission at the hearings, but it cannot be raised without additional notice being provided to each taxpayer at a cost of approximately $20,000 for postage. Due to sufficient fund balance available to cover the future FY 2026 debt services, the Voter Approved Debt Rate is being decreased to 0.40 mills in FY 2026 from 0.92 mills in FY2025

Property values Palm Beach County rising but at slower level

Lake Worth Beach property values have risen: $3.6 billion, or 7.8%.

Property values in Palm Beach County are still rising, but not as quickly

As experts predicted, the nearly double-digit increases in the Palm Beach County tax rolls slowed this year after a three-year ride.

Property values rose 7.7% countywide, a slower increase than in the past three years when values rose 9.6% in 2024, 13.5% in 2023 and 15% in 2022. Not since the 5.6% increase in 2021 has the tax roll increase been lower.

The countywide valuation stood at $209 billion in 2020. The preliminary calculation for 2025 puts it at $341 billion, up 62%. Cities account for $237 billion of the county’s value, up 62% from $146 billion in 2020.

It’s important because local governments use the valuations to determine the tax rate residents pay to cover the cost of police, fire-rescue, libraries, schools, garbage pickup and other municipal services. Gov. Ron DeSantis has proposed eliminating property taxes without suggesting a way to replace the money to provide municipal services.

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I would suppose the City of Lake Worth will stop moaning, blaming everything on the Governor and figure it all out. Perhaps they can reduce waste in certain departments thus cutting a lot of very expensive overhead. At the moment, they don't know how to fix a sidewalk without cutting down an old Oak tree.

And when you talk to a Realtor, you are told that property values are going down.

Florida property tax reform: GOP leaders seek new legislation

Florida property tax reform: Lawmakers seek deal without governor

A House committee comprised of 37 lawmakers is considering various ideas like a $500,000 homestead exemption, protections against foreclosure for unpaid taxes and tax relief for seniors.

The committee invited the governor to present his ideas, but he declined, calling it unnecessary.

Instead, the governor has proposed a $5 billion rebate program, offering $1,000 per property. House Speaker Danny Perez, R-Miami, rejected the plan, arguing it doesn't address the root issue of high tax rates. 

"The only option that I have ruled out is simply mailing $1,000 checks from the state treasury," Perez said. "These checks do not actually lower tax rates. These checks do not solve the property tax problem." (I agree.)

The committee plans to reconvene during upcoming budget talks and will later hold a statewide listening tour.

WPTV has spoken with experts, taxpayers and local mayors on the proposal.

"Do (Florida lawmakers) want us to hold bake sales to make up the lack of funds? Should we have a garage sale?" Lake Worth Beach Mayor Betty Resch said in March. "I just don't understand where they think the money is going to come from."

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Tax Cuts Are Coming

Trump new tax plan revealed

Donald Trump has been getting hammered by Democrats, who insist he will put tax cuts into play that will help out all of his rich friends. DEMOCRATS CONSTANTLY LIE!

Well, Trump unveiled his tax plan this week, and Democrats have quite a bit of egg on their faces now. According to the White House, this will be the “largest tax cut in history” for middle-class Americans.

The plan was confirmed and explained by White House Press Secretary Karoline Leavitt, who stated, “No tax on tips, which is obviously a very public campaign promise the president made. No tax on seniors’ social security.

“No tax on overtime pay. Renewing President Trump’s 2017 middle-class tax cuts — again, these are the president’s priorities.

“Adjusting the SALT cap. Eliminate all the special tax breaks for billionaire sports team owners. Close the carried interest tax deduction loophole. Tax cuts for Made in America products.

“This will be the largest tax cut in history for middle-class working Americans. The president is committed to working with Congress to get this done.”

Read more at the Conservative Journal

Trump and Tax Reform

Stephen Miller Says Delaying Tax Reform Not an Option

Donald Trump is expected to have some challenges coming into office, especially for legislation where he will need help from the Democrats.

Incoming Deputy Chief of Policy Stephen Miller, who also worked in the first Trump administration, says that will not be the issue for tax reform.

Miller is confident that even with resistance from the Democrats, Trump will get this done.

"Tax reform will happen, and it will be the greatest tax bill that we've ever seen. Now, these are not final. These are ongoing discussions and negotiations, but I just want to be very clear that no one is talking about delaying tax reform," he said.

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City of Lake Worth Beach Tax Increase

Kamala's tax on Unrealized Capital Gains

One example of Kamala's farce on taxing Captial Gains

The plan specified that the tax would apply only to those with wealth exceeding $100 million — i.e., not the middle class. But we all know, once a tax is implemented, the government will find ways to tax the middle class. Aside from that, how dare she want to tax someone's home as capital gains?

CNBC Tag Team Harris advisor on Tax suggestion

Kamala's suggestion to tax Unrealized Gains

With the Democrats, it's always been about putting the screws to the wealthy

And the amazing thing about this is, they are the party of the elite!

“It’s probably unconstitutional,” Kernen said. “And it’s never gonna happen, probably.”

“It’s not income,” Quick interjected.

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Biden's new decision to stick it to the working stiff

Biden Announced that Millions of Americans Will Lose Their Jobs Effective Immediately

Joe Biden has made a decision.

He made an announcement that will cost millions of Americans their jobs.

And now anger is brewing at Joe Biden for hurting so many people.

Joe Biden’s economic policies have been calamitous ever since he took office. He’s brought about sky-high inflation and soaring interest rates.

Americans cannot buy homes and people are having to budget for just basic necessities like groceries.

It’s a large reason why Biden’s approval ratings have fallen so low and now his latest announcement certainly won’t make it any better.

Biden has announced a new policy that ultimately attacks “gig workers” – people who depend on independent contracting jobs like driving for Uber, or shopping for Instacart, to make a living.

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Proposed Tax Increase Lake Worth Beach

Public Safety makes up approximately 47.81% of our budget at $21,971,300 from the total budget of $45,957,773.

PBSO is getting a $51 million increase over last year County wide.

DIMS want to tax gun dealers 1000% on assault weaons

Biden Mulls Exec Order End Run of 2A as House Dems Push 1,000% Excise Tax on 'Assault Weapons,' High-Capacity Mags

As a new federal edict could come down that vastly changes the definition of a gun dealer, House Democrats are pushing to slap a massive tax on what they term “assault weapons.”

On Friday, 25 House Democrats proposed a 1,000 percent excise tax on so-called assault weapons and large capacity magazines, according to Fox News.

The bill was sponsored by Rep. Don Beyer of Virginia and 24 other Democrats. Republicans control the House with a narrow majority.

The NY Times said the new provision “could set a threshold number of transactions that would define a dealer; gun-control groups hope to see it at five sales a year or lower. The rules will be backed up by a renewed push to prosecute businesses that refuse to register, by accessing bank records, storage unit leases and other expenses associated with running an off-the-books gun business.”

All of this was gleefully supported by the gun control group Giffords, set up by former Democratic Rep. Gabby Giffords of Arizona, as well as Democratic Sen. Richard Blumenthal of Connecticut.

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The UTPR’s (Undertaxed Profits Rule) goal is to force countries to enact the OECD plan for global socialism

OECD is Organization for Economic Co-Operation and Development

Biden Has Been Secretly Negotiating for a Global Minimum Tax for Two Years

It continues to get worse under this Biden administration

Traitor Joe Biden has been working in secret for two years to impose a global minimum tax on Americans.

You read that right. Joe Biden is preparing to give away American sovereignty on tax policy and force us into some deal with the global elite.

It’s just another example of Joe Biden betraying America.

Over the past two years, President Biden and Treasury Secretary Janet Yellen have negotiated a global minimum tax through the Organization for Economic Co-Operation and Development (OECD). This organization surrenders America’s sovereignty over our tax code and allows foreign countries to take our taxes that were meant for our own essential programs and military.

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