New York City (NYC) Mayor Zohran Mamdani warned that property taxes in the city could increase, as he also announced a $127 billion preliminary budget for the 2027 fiscal year.
During a press conference on Tuesday, Mamdani spoke about how as mayor of the city, he has a “legal obligation to balance the budget,” adding that he would “meet that obligation.”
During the press conference, Mamdani went on to explain that under path one, his administration wanted to “work with Albany to raise personal income taxes by two percent on the 33,000 New Yorkers earning more than $1 million a year, and to raise corporate taxes on the most profitable…
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