Mamdani floats 9.5 percent property tax hike to close NYC budget gap

Mayor Zohran Mamdani said New York City would raise property taxes if Albany doesn’t tax the rich. The mayor on Tuesday released his first preliminary budget, presenting a grim outlook for the city’s fiscal health, including a $5.4 billion budget gap. Mamdani framed the proposed 9.5 percent property tax as a “last resort” if he [...] The post Mamdani floats 9.5 percent property tax hike to close NYC budget gap first appeared on 6sqft.