Mamdani says if the state won't tax the wealthiest New Yorkers, he'd have to tax the middle class as a 'last resort'

New York City Mayor Zohran Mamdani said that a property tax increase would be a last resort effort to balance the budget.

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• Mayor Zohran Mamdani said a property tax hike is on the table as a "last resort" in New York City.
• Higher taxes on the wealthy is his preferred way to bridge the $5.4 billion budget deficit — but requires state buy-in.
• A potential tax hike could hit middle-class New Yorkers and renters.

New York City...