Are there middle class property owners in New York city?

I feel like middle class would all be renters there and upper class wealthy the only actual owners.

You have fallen for propaganda, this simply isn't true.

Like most taxes it's possible to do a progressive property tax, where the more your properties are collectively worth the higher rate of tax you pay. This doesn't sound like what is being proposed here, but it is very-much possible and hopefully it gets changed before it's passed.

Done right this will leave owner/occupiers in the same state they are in now, mildly reduce the profitability of small time landlords and make large scale landlords financial nonsense viable forcing them to sell.

The actual risk is that because it lowers house prices by artificially reducing the demand it won't encourage housebuilding which is the only real solution when more people want or need to live in a place than there is housing.

That said, I am optimistic this increases supply enough by forcing sales of under occupied properties to offset the reduction in built supply.

What the fuck is a "middle class?" We don't have one of those anymore.

I'm considered middle class despite being something like in the top 10% of earners in the US and I don't own any property. I don't know if I could afford to own property with their current prices. I'm not certain property taxes hit the middle class as much as they might have back when my parents were in their prime. Of course it still hits a percentage of the middle class, but I'm suggesting that percentage is shrinking and smaller than the revenue it would generate from the rich.

Middle Class isn't real. You are either a renter or an owner, property tax increase along with a rent ceiling and a vacancy tax only affects the owners.