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Mayor Mamdani Threatens Hike to NYC Property Taxes
Mayor Mamdani proposes a 9.5% property tax increase affecting over 3 million residential and 100,000 commercial owners to close a $5.4 billion budget gap, officials said.
- On Feb. 17, Mayor Zohran Mamdani unveiled a $127 billion Fiscal Year 2027 Preliminary Budget proposing a 9.5% property tax increase to bridge a $5.4 billion two‑year gap.
- Following updated revenue and savings efforts, Mamdani says the gap stems from inherited fiscal mismanagement and underbudgeted services, which once left a $12 billion deficit.
- More than 3 million residential owners would be affected, with nearly $1 billion from reserves and $229 million from the retiree health fund, officials say.
- City Council leaders said they oppose the property tax hike, and Hochul stated she is not supportive before the June 30 budget approval deadline.
- Out‑year projections still show shortfalls of $6.7 billion in 2028, $6.8 billion in 2029, and $7.1 billion in 2030, with a full analysis due on March 11.
37 Articles
37 Articles
Mamdani Floats 9.5% Property Tax Hike, Rainy Day Reserve Draw As 'Last Resort' To Plug NYC Deficit If Wealth Tax Stalls
To close New York City's $5.4 billion budget gap over the next two fiscal years, newly elected Mayor Zohran Mamdani has proposed raising property taxes and tapping into reserves. Budget Plan Hinges On State Support Mamdani presented two options to balance the city’s $127 billion 2027 preliminary budget during a Tuesday press conference. His preferred solution involves increasing taxes on the wealthy and corporations, a key element of his campaig…
Hastings Tribune
Mamdani proposes 9.5% property tax hike for budget gap if Albany doesn’t act
NEW YORK — Mayor Zohran Mamdani on Tuesday gave Gov. Kathy Hochul an ultimatum, saying that if the governor doesn’t raise taxes on the wealthiest New Yorkers and corporations, despite her continued resistance to the idea, he’d be forced to…
Mamdani’s proposed property tax increase faces swift political pushback
New York City Mayor Zohran Mamdani is proposing property tax hikes unless the state levies a wealth tax on the city's richest residents. The proposal is part of the mayor’s first preliminary budget. Mamdani proposal Mamdani said either further taxing the rich or raising property taxes is necessary to fill a $5.4 billion budget gap. “It's not an enormous percentage gap,” Jan Brueckner, professor of economics emeritus at the University of Califor…
You voted for this NYC! Mamdani threatens to hike property taxes almost 10% to fund his agenda
Watch Louder with Crowder every weekday at 11:00 AM Eastern, only on Rumble Premium!Mamdani says if Hochul doesn't allow NYC to raise taxes on corporations and highest earners, he will raise property taxes on New York City homeowners. pic.twitter.com/Bm07LxS9OH— The Post Millennial (@TPostMillennial) February 17, 2026 \New York City Mayor Zohran Mamdani has learned the hard way that nothing in life is free. So, while he promised the left everyth…
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