From:
In a New York Times story on high-end home sales after New York's new tax on $5 million second homes, Christopher Mayer, emeritus professor of real estate at Columbia Business School, says the bigger risk for the city would be wealthy people choosing not to open offices or grow their businesses there. So far, he says, that hasn't happened, and the tax looks "big enough to generate some revenue, but not so big and disruptive that it's damaging the larger business community."
