Cryptic crossword clue
To give a facelift to US city, tax highest of earners? 8

The most common and most likely answer to this crossword clue is the 8 letter word RENOVATE

I've seen this crossword clue in Financial Times
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Buddy explains!

The straight part
We know that "To give a facelift to" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case to give a facelift to = renovate.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does RENOVATE mean?

RENOVATE verb
  1. To renew; to revamp something to make it look new again.
  2. To restore to freshness or vigor.

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