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

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.

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