NYC’s Mamdani Seeking First Property Tax Hike in Decades to Cover Budget Deficit

New York City Mayor Zohran Mamdani said Tuesday the city may have to raise property taxes to close a multibillion-dollar budget deficit.

The warning came as Mamdani unveiled a $127 billion city budget.

According to Bloomberg, the mayor said the tax hike would be necessary if state lawmakers in Albany do not impose new taxes on wealthy residents or businesses operating in the city.

BREAKING: New York City Mayor Zohran Mamdani plans to raise NYC’s property taxes for the first...