Mamdani’s $127B Budget Plan Relies On Property Tax Increases And ‘Raiding’ Rainy Day Fund

New York City Mayor Zohran Mamdani warned that his preliminary budget would be a tax on working- and middle-class New Yorkers on Tuesday. “Property taxes would be raised by 9.5%. This would effectively be a tax on working- and middle-class New Yorkers who have a median income of $122,000,” the mayor said. Mamdani unveiled his ...