Nassau County Executive Bruce Blakeman, who is currently campaigning for the New York governorship, expressed criticism of Governor Kathy Hochul and Mayor Mamdani’s proposal for a tax on luxury second homes valued over $5 million. He labeled it as yet another misguided left-wing initiative that is driving businesses and jobs away.
This proposed tax is still pending approval from the state Legislature, but excitement is evident among business leaders, especially following a viral video in which Mamdani mentioned Citadel founder Ken Griffin’s extravagant $238 million penthouse.
“Mamdani is belittling hardworking people who adhere to the rules and contribute to their communities,” Blakeman stated, responding to a clip where Mamdani animatedly promised to tax the wealth of billionaires.
“He poses a threat to New York City’s economy, which has been the financial center of the world. Yet, we continuously witness businesses and jobs leaving due to the policies of Mr. Hochul and Mr. Mamdani,” added Blakeman, who is affiliated with the Republican Party.
Mamdani and Hochul’s offices have not yet commented on Blakeman’s remarks.
Blakeman cautioned that this tax could trigger a significant job exodus, particularly after Griffin, visibly dismayed, hinted at potentially abandoning a $6 billion development project in Midtown.
Prominent hedge fund manager Bill Ackman also condemned this proposed tax on affluent individuals, backing Griffin’s contributions to the city while warning that it could drive more companies to states like Florida, which have lower taxes.
“If I were in Ken Griffin’s position, I’d wait until November, as support may shift closer,” Blakeman remarked, referring to his own gubernatorial campaign. The primary is set for June 23.
During a recent event at Diner 24, Blakeman outlined his campaign strategy, proposing tax reductions for small businesses and restaurants, along with abolishing New York City’s congestion tolls.
Hochul, who is seeking re-election this year, had initially resisted the idea of taxing the wealthy to finance initiatives like free childcare and city-run grocery stores. However, she changed her position last week and endorsed the second home tax.
“I don’t trust Kathy Hochul. She seems to reverse her decisions more often than a taxi driver does,” Blakeman commented, referencing her previous decision to indefinitely suspend Manhattan’s congestion tolls in 2024 before they were reinstated in 2025.
“Her record reflects high taxes, elevated utility costs, and minimal economic progress, rather than fostering happiness for residents.”
Hochul’s campaign has highlighted Blakeman’s past relationship with President Trump, who supported him in the last election, and criticized Blakeman’s past tax increases during his tenure as the chairman of the Nassau County Legislature.
While in that role, Blakeman voted to raise property taxes by 3.6% in 1998 and 9.4% in 1999; at that time, he was considered a key figure behind the latter increase.
“I supported a minor tax increase nearly three decades ago, and I acknowledge it was a mistake. We’ve not raised taxes in my county for the last four years,” Blakeman remarked.
However, he argued that New York’s tax burden is excessive, claiming the state’s budget is about double that of Florida’s, despite having a comparable population.
Blakeman also contended that wealthy individuals in New York already contribute a significant amount in taxes, and should they leave, the financial burden will fall on the middle class instead.
The top 1% of income earners in New York contribute approximately 46.2% of the total income tax, according to a SmartAsset analysis of 2025 IRS data.
“We’re not dealing with a revenue problem; it’s a spending issue,” Blakeman emphasized. “If Zoran Mamdani and Kathy Hochul genuinely care about budget concerns, they need to halt extravagant spending on individuals who have just recently arrived.”
At the beginning of 2025, former Mayor Eric Adams indicated that the city had spent over $6.9 billion on immigrant support in the past three financial years.
