NYC Council budget plan averts Mamdani property tax hike, avoids tapping reserves
The Council’s plan outlines revised estimates and efficiencies it says would balance the books without the measures Mamdani is talking about.
Mamdani, Hochul team up on second-home tax: What to know
New York Gov. Kathy Hochul (D) and New York City Mayor Zohran Mamdani (D) have proposed a new tax on property owners who have second homes in New York City worth more than $5 million, in an effort to narrow the city’s budget deficit by targeting the ultrawealthy.
Council calls foul over Mamdani’s budget — pushes own spending plan with no tax hikes
The City Council released a $127 billion alternative budget plan Wednesday that doesn’t raise property taxes, dip into reserves or cut services to make ends meet — a slap-down for Mayor Zohran Mamdani.
Tax fight heats up as New York targets wealthy homeowners
New York policymakers push higher taxes on wealthy nonresident homeowners, intensifying the debate over revenue, housing and economic competitiveness.
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Mamdani proposes city-backed insurance program to cut costs for some NYC landlords
A new program managed by the city will reduce the cost of property and liability insurance for affordable and rent-stabilized housing.
NYC business leader warns exodus is brewing over Zohran Mamdani’s tax hike crusade: ‘Exploring options’
The head of an influential Big Apple business advocacy group warned that companies are already taking steps to relocate or move jobs elsewhere because of Mayor Zohran Mamdani’s tax-hike crusade. Steve Fulop,