Tax fight heats up as New York targets wealthy homeowners

Tax fight heats up as New York targets wealthy homeowners
Ground Zero Redux by nosha is licensed under flickr Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

A growing push for higher taxes on wealthy homeowners in New York is intensifying the debate over how far states should go to raise revenue, as policymakers weigh the broader economic impact on investment, housing and taxpayer behavior.


FOX Business’ Connor Hansen joined FOX Business’ Stuart Varney on "Varney & Co." to report on the latest proposals, which center on a new tax targeting high-value second homes owned by nonresidents.


The proposal comes as voters nationwide continue to express frustration with their overall tax burden, even as Internal Revenue Service data shows average tax refunds are up compared to last year.
Ground Zero Redux by nosha is licensed under flickr Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

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