[pyoung]

If they can afford a crash pad in new york city, then a little extra in property taxes is probably not gonna break the bank.

Another way to look at the issue, is to evaluate the 'tax collection opportunity costs' of the absentee owners. For every condo that gets bought by an absentee owner (as opposed to a local owner), NYC loses income tax, sales tax, and general economic activity (these are wealthy individuals, there spending is a boost to the local economy). By increasing the property taxes, NYC would shift the cost-benefit ratio towards those that are actually going to utilize the property (thus resulting in more income and sales taxes), while also bringing in more property taxes

Finally, if these wealthy individuals were so concerned about only paying for what they "use", then it would make a lot more sense if they just got a nice hotel room for the days/weeks per year that they are in NYC, rather than buying a condo that sits empty most of the time.

[greedo]

The "probably not gonna break the bank meme" is how class warfare propagates; it offers nothing useful in terms of creating progressive and fair tax rates.

And your hotel idea is exactly what will happen if property tax rates go up. Think through what the effects of that would be...

[pyoung]

"it offers nothing useful in terms of creating progressive and fair tax rates." Neither does accusing people of propagating class warfare.