Mamdani Threatens NYC Property Tax Hike
Photographer: Michael Nagle/Bloomberg
Mayor Zohran Mamdani has thrown down an ultimatum, threatening to raise property taxes by nearly 10% as a way to lobby Gov. Kathy Hochul for more funding, Laura Nahmias and Nacha Cattan report.
There’s just one problem: Hochul, who is running for reelection in November, hasn’t budged on her refusal to raise taxes on corporations and wealthy residents, repeatedly saying there is no reason to hike the levies at this time.
What’s more, City Council leadership is adamant they oppose a property-tax increase. The proposal would need approval from the council to be ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.