Mamdani Proposes 9.5% Property Tax Hike if New York Won’t Pass Wealth Tax
People like Mamdani won’t ever consider slashing the budget and stop spending. It’s appalling.
When you elect a communist, you get a communist community.
New York City Mayor Zohran Mamdani introduced his $127 billion preliminary budget plan on Tuesday.
That’s $11 billion higher than 2025. And cuts? Mamdani claimed he “identified another $1.7 billion in savings to reduce the budget gap.”
Did Mamdani explain those cuts? Of course not! Probably because he has no intention to cut any spending.
Mamdani threatened to raise property taxes by 9.5% and raid the rainy day fund if Gov. Kathy Hochul does not implement a wealth tax.
“That’s their prerogative to look at that as an option,” Hochul responded. “He’s required to put options on the table; that does not mean that’s the final resolution.”
Hochul already promised NYC $1 billion for the 2025 fiscal year and $500 million for next year.
The City Council approves the budget, meaning the 51-member legislative body will likely butt heads with Mamdani.
“At a time when New Yorkers are already grappling with an affordability crisis, dipping into rainy day reserves and proposing significant property tax increases should not be on the table whatsoever,” said Council Speaker Julie Menin. “The Council believes there are additional areas of savings and revenue that deserve careful scrutiny before increasing the burden on small property owners and neighborhood small businesses.”