Bill Ackman says New York City’s proposed pied-a-terre tax could end up cutting, not raising, tax revenue. He argues an annual levy on homes would depress prope
Bill Ackman says New York City’s proposed pied-a-terre tax could end up cutting, not raising, tax revenue. He argues an annual levy on homes would depress property values as the tax is capitalized into prices and could spur capital flight.
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