Mayor Zohran Mamdani has declared that property taxes will require a 9.5% hike across NYC to make up for Gov. Kathy Hochul's refusal to hike taxes on NY's wealthy

NYC Mayor Zohran Mamdani has unveiled a record $127 billion budget proposal, an increase of $11 billion from the current year. The budget includes a proposed 9.5% property tax hike, which the mayor claims would be a last resort, and an allocation of $1.2 billion for migrants.