US Edition
New York City’s Proposed 9.5% Real Estate Tax Hike Hits A National Nerve
Mayor Mamdani aims to close a $5.4 billion deficit with a $127 billion budget including a 2% surtax on millionaires and a rent freeze on 2 million apartments.
- Mayor Zohran Mamdani has proposed a property tax hike if Albany rejects his tax plans, linking it to the preliminary $127 billion budget filed earlier this month.
- Supporters argue the plan would fund child care and affordable housing, as Mamdani says the hikes are needed to close the $5.4 billion deficit he `inherited`.
- On Wednesday, about 1,200 protesters gathered in Albany calling on Gov. Hochul and lawmakers to support taxing top earners, while twenty-two progressive Democrats on the New York City Council urged approval of the Fair Share Act.
- Critics warn the plan could trigger an exodus of employers to low-tax states like New Hampshire and Florida, while Gov. Kathy Hochul has ruled out support for the wealth tax but pledged state funds to address budget gaps this year.
- New York City's roughly 10% proposed property-tax increase illustrates local fiscal responses amid nationwide house-price growth roughly 55% from 2020–2025, heightening affordability pressures.
13 Articles
13 Articles
Champagne socialism is forced to raise its glass to economic reality
In New York City, champagne socialist talking points are starting to meet real-world consequences. Mayor Zohran Mamdani is now floating the idea of a 10% property tax increase to fund his social programs and plug a looming budget hole. The city he leads is already the most expensive place to live in the country, with families everywhere still trying to catch up to higher costs. A massive tax hike like his proposal would only make things worse, …
Mamdani backers descend on Albany, demanding ‘Tax the Rich’
ALBANY, N.Y.—The governor of New York State, Kathy Hochul, wants to have New York City Mayor Zohran Mamdani’s supporters back her campaign for re-election to the governorship. To that end, she has made public pronouncements of agreement with Mamdani on things like expansion of Day Care and some other matters, but she has resisted his calls for increasing taxes on the rich. Such increases are a must if he is to carry out key planks of his campaig…
Mamdani Proposes Property Tax Hike Amid Campaign Promoting Childcare for Immigrant Families
New York City mayor-elect Zohran Mamdani speaks during a press conference in New York City, U.S. December 9, 2025. REUTERS/Kylie Cooper TPX IMAGES OF THE DAYNew York, NY – Last week, Mayor Zohran Mamdani proposed a potential
Mamdani's rent freeze, tax hikes a 'one-two wealth destruction punch,' economists warn | Fox Wilmington WSFX-TV
close Video Mamdani’s ‘honeymoon’ is going to end very soon: NY GOP rep Rep. Nicole Malliotakis, R-N.Y., says that she thinks the Trump administration will be the ‘layer of defense’ for New York City Mayor Zohran Mamdani’s agenda on ‘Fox News Live.’ NEWYou can now listen to Fox News articles! New Yorkers could be facing a “one-two wealth destruction punch” if Mayor Zohran Mamdani’s rent freeze and tax hikes take effect, economists warn. Mam…
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