Mamdani Backs Off Property Tax Hike, Seeks State Aid

New York City Mayor Zohran Mamdanis proposed 9.5% property tax increase faced backlash, leading him to abandon the plan. Homeowners, including middle-class families and Black communities, opposed the hike due to already high property taxes. Governor Kathy Hochul remains against raising income taxes on high earners. As the June 30th budget deadline nears, the mayors team is exploring reserves and ongoing discussions with Albany to address the budget gap without new property taxes.

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