Mamdani Abandons Plan for Raising New York City Property Taxes

NYC Mayor Zohran Mamdani drops broad property tax hike in revised budget

New York City Mayor Zohran Mamdani on Tuesday unveiled a $124.7 billion budget for fiscal year 2027 that closes a projected $5.4 billion gap without raising property taxes on most property owners, walking back a threat he had used for months to pressure Albany for more funding.

Is Mamdani’s ‘Tax the Rich’ fight done?

DAYS THE BUDGET IS LATE: 42 ZO, THAT’S IT? For months, Mayor Zohran Mamdani has pressed the case that Albany must raise income and corporate taxes to help plug New York City’s $5.4 billion budget deficit. So in rolling out an executive budget today that closes the gap without his favored state-level tax hikes, Mamdani made a significant concession, showing he did not, in fact, need the increases from Albany to shore up his spending plan. When Pl…

Fair Fares: There are plenty of plans to expand transit discount program. But will Mamdani adopt any of them?

There is widespread support for growing the city's reduced subway and bus fare program — Fair Fares — among the City Council, advocates, and civic groups in this year's city budget. But Mayor Zohran Mamdani does not appear poised to expand the city's contribution to Fair Fares. Hizzoner campaigned in no small part on a promise to make city buses free for all New Yorkers — a proposal he has given little oxygen since taking office. The mayor's $12…

Mayor Mamdani says New York City has balanced budget for FY 27

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Mamdani unveils NYC budget buoyed by state bailout

(The Center Square) — New York City Mayor Zohran Mamdani rolled out a balanced budget Tuesday that closes an estimated $12 billion revenue gap he inherited from previous administrations.

Mamdani proposes $124.7B executive budget - without raiding reserves

New York City Mayor Zohran Mamdani proposed a budget Tuesday that avoids what skeptics and watchdogs warned would be critical missteps in the new mayor’s first budget outing. City Hall won’t pursue a threat to raise the property tax rate – an idea few observers treated as serious or even possible from the moment Mamdani first raised it in February. The city also won’t raid its budget reserves to close an estimated $5.4 billion gap between this f…