Mayor Zohran Mamdani Balances NYC Budget Without 9% Property Tax Increase
New York City Mayor Zohran Mamdani, in office since January 1, 2026, has secured a balanced budget of $124.7 billion for the city without implementing a proposed 9% property tax hike. To bridge the fiscal gap, the administration leveraged $4 billion in aid from Albany, $1.77 billion in internal savings, and a new pied-à-terre tax … Read more