{"id":2570888,"date":"2026-02-18T04:57:02","date_gmt":"2026-02-18T09:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mamdani-proposes-9-5-property-tax-hike-in-nyc-as-part-of-new-budget\/"},"modified":"2026-02-18T05:04:16","modified_gmt":"2026-02-18T10:04:16","slug":"mamdani-proposes-9-5-property-tax-hike-in-nyc-as-part-of-new-budget","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mamdani-proposes-9-5-property-tax-hike-in-nyc-as-part-of-new-budget\/","title":{"rendered":"Mamdani proposes 9.5% property tax hike in NYC as part of new budget"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmamdani-proposes-9-5-property-tax-hike-in-nyc-as-part-of-new-budget%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2570888&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>New York City Mayor Zohran mamdani proposed a 9.5% property tax increase as part of the city\u2019s preliminary budget to close a $5.4 billion shortfall blamed on past fiscal mismanagement. He described the hike as a \u201clast resort\u201d if the state governor refuses to allow new taxes on the ultra-wealthy and profitable corporations, with the alternative being to balance the budget by burdening <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kamala-harris-condemns-d-c-demonstrators-despite-past-encouragement-of-violent-blm-mobs\/\" title=\"Kamala Harris condemns D.C. demonstrators despite past encouragement of violent BLM mobs\">working people<\/a>. If approved,it would be the first NYC property tax increase as 2003 and coudl raise about $3.7 billion in revenue, though critics warn it would disproportionately affect Black neighborhoods and that spending shoudl be made more efficient instead. The plan faces opposition from Governor Hochul, City Council Speaker Julie Menin, and other officials, who argue the tax hike is needless or should not be on the table; any change would require City Council approval.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Mamdani proposes 9.5% property tax hike in NYC as part of new budget<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2508178\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>New York City Mayor <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/zohran-mamdani\/\">Zohran Mamdani <\/a>proposed a 9.5% property tax increase on Tuesday as part of his plan for the city&rsquo;s &ldquo;preliminary budget.&rdquo; Mamdani said the tax hike was necessary to offset a $5.4 billion budget shortfall in the city due to the financial mismanagement by previous administrations. Mamdani&rsquo;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chicago-teachers-union-marches-students-out-of-class-and-right-down-to-the-polls-to-vote-for-democrat-tax-hike\/\" title=\"Chicago Teachers Union leads students from classrooms to voting booths in support of Democratic tax ...\">tax hike proposal<\/a> comes months after his mayoral <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.cato.org\/blog\/mamdanis-wishful-thinking-tax-revenues#:~:text=Mamdani's%20first%20proposal%20entails%20demanding,raise%20%245%20billion%20a%20year.\">campaign<\/a> focused on affordability issues and lowering the cost of living.<\/p>\n<p>As part of his <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.politico.com\/news\/2026\/02\/17\/mamdani-new-york-city-property-taxes-budget-00784077\">$127 billion city budget proposal<\/a> for fiscal 2027, which begins in July, he described the property tax increase as a &ldquo;last resort,&rdquo; predicated on Gov. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/kathy-hochul\/\">Kathy Hochul<\/a>&rsquo;s refusal (D-NY) to <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.nydailynews.com\/2026\/02\/17\/mamdani-property-taxes-hike-proposal-budget-deficit\/\">implement a tax hike<\/a> on affluent New Yorkers and corporations. Mamdani emphasized the <a href=\"https:\/\/amzn.to\/3YuVZYV\" >proposed property tax increase<\/a> could be avoided if Hochul agreed to taxing the wealthy.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/4461218\/eleven-killed-us-southern-command-strikes-on-suspected-narco-terrorist-vessels\/\">Eleven people killed as US Southern Command carries out three more strikes on suspected &#8216;narco-terrorist&#8217; vessels<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/4461184\/megyn-kelly-randy-fine-muslim-dogs-post\/\">Megyn Kelly rips &#8216;sweaty man&#8217; Randy Fine for going &#8216;full bigot&#8217; in anti-Muslim post<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/4461163\/fetterman-trump-texas-senate-race-cornyn\/\">Fetterman suggests Trump &lsquo;lock down&rsquo; Texas Senate race with Cornyn endorsement<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, I&rsquo;m releasing the City&rsquo;s preliminary budget. After years of fiscal mismanagement, we&rsquo;re staring at a $5.4 billion budget gap &mdash; and two paths. <\/p>\n<p>One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between&hellip;<\/p>\n<p>&mdash; Mayor Zohran Kwame Mamdani (@NYCMayor) <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/twitter.com\/NYCMayor\/status\/2023791652146442545?ref_src=twsrc%5Etfw\">February 17, 2026<\/a><\/p><\/blockquote>\n<p><script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<p>&ldquo;Today, I&rsquo;m releasing the City&rsquo;s preliminary budget,&rdquo; Mamdani <a target=\"_blank\" href=\"https:\/\/x.com\/NYCMayor\/status\/2023791652146442545?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2023791652146442545%7Ctwgr%5Ea781c39e6da1b81acdb2834c6a47a5b51b5127de%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.nbcnewyork.com%2Fnew-york-city%2Fzohran-mamdani-nyc-budget-plan%2F6463835%2F\" rel=\"noreferrer noopener\">posted<\/a> on X. &ldquo;After years of fiscal mismanagement, we&rsquo;re staring at a $5.4 billion budget gap &mdash; and two paths.&rdquo;&nbsp;<\/p>\n<p>&ldquo;One: Albany can raise taxes on the ultra-wealthy and the most profitable corporations and address the fiscal imbalance between our city and state,&rdquo; he said.&nbsp;<\/p>\n<p>&ldquo;The other, a last resort: balance the budget on the backs of working people using the only tools at the City&rsquo;s disposal,&rdquo; Mamdani said.&nbsp;<\/p>\n<p>&ldquo;The first path matches a structural crisis with a sustainable and fair solution. I know where I stand,&rdquo; Mamdani added. &ldquo;New Yorkers voted for bold change and competent leadership. We will deliver both, and we look forward to partnering with Albany to protect working New Yorkers.&rdquo;<\/p>\n<p>If approved, it would be the first property tax increase in New York City since 2003, according to <a target=\"_blank\" href=\"https:\/\/www.nydailynews.com\/2026\/02\/17\/mamdani-property-taxes-hike-proposal-budget-deficit\/\" rel=\"noreferrer noopener\">reports<\/a>.<\/p>\n<p>Hochul and other Democrats blasted Mamdani&rsquo;s idea, saying she didn&rsquo;t think it was &ldquo;necessary.&rdquo;&nbsp;<\/p>\n<p>&ldquo;I&rsquo;m not supportive of a property tax increase,&rdquo; Hochul <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2026\/02\/17\/mamdani-new-york-city-property-taxes-budget-00784077\" rel=\"noreferrer noopener\">said<\/a> at a press conference in New York City. &ldquo;I don&rsquo;t know that that&rsquo;s necessary, but let&rsquo;s find out what is really necessary to close that gap.&rdquo;<\/p>\n<p>New York City Council Speaker Julie Menin also criticized the idea, emphasizing that such a thing should not even be considered. Menin and City Council Member Linda Lee, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pride-month-goes-out-with-a-whimper\/\" title=\"Pride Month Goes Out with a Whimper\">council&#038;rsquo<\/a>;s finance committee chairwoman, released a statement dismissing the idea, <em>Politico<\/em> reported.<\/p>\n<p>&ldquo;At a time when New Yorkers are already grappling with an affordability crisis, dipping into rainy day reserves and proposing significant property tax increases should not be on the table whatsoever,&rdquo; read the joint statement.<\/p>\n<p>Mamdani would need City Council approval to make his proposed property tax increase a reality, should it come to that point.<\/p>\n<p>Mamdani administration officials reported that the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-rep-brady-calls-raising-corporate-taxes-a-major-mistake\/\" title=\"GOP Rep. Brady calls raising corporate ... a \u2018major mistake\u2019\">proposed tax hike<\/a> would generate an additional $3.7 billion in revenue, the New York Daily News reported. However, it is also believed that such an increase would disproportionately affect <a target=\"_blank\" href=\"https:\/\/www.nydailynews.com\/2026\/02\/17\/mamdani-property-taxes-hike-proposal-budget-deficit\/\" rel=\"noreferrer noopener\">black neighborhoods<\/a> in New York City.&nbsp;<\/p>\n<p>Citizens Budget Commission, a self-described &ldquo;nonpartisan, nonprofit civic organization whose mission is to achieve constructive change in the finances and services of New York City and New York State government,&rdquo; dismissed Mamdani&rsquo;s proposal and criticized the rationale behind it.<\/p>\n<p>&ldquo;Mayor Mamdani&rsquo;s preliminary budget proposes a false choice: either the state raises personal income and business taxes, or the city raises property taxes and saps money from reserves, including those to protect New Yorkers from a recession,&rdquo; <a target=\"_blank\" href=\"https:\/\/www.nydailynews.com\/2026\/02\/17\/mamdani-property-taxes-hike-proposal-budget-deficit\/\" rel=\"noreferrer noopener\">said<\/a> Andrew Rein, president of the CBC. &ldquo;The best choice is to eliminate spending that does not improve New Yorkers&rsquo; lives and make government more efficient and effective.&rdquo;<\/p>\n<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mamdani seeks 9.5% NYC property tax hike in budget<\/p>\n","protected":false},"author":2677,"featured_media":2570889,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/01\/AP26001209579341-e1768353420271.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651,538],"tags":[73999,72518,56552,73998,73966],"class_list":["post-2570888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","category-washington-examiner","tag-budget-proposal-2","tag-local-government-2","tag-mamdani","tag-nyc-budget","tag-property-tax-2"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/01\/AP26001209579341-e1768353420271.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2570888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2677"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2570888"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2570888\/revisions"}],"predecessor-version":[{"id":2570892,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2570888\/revisions\/2570892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2570889"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2570888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2570888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2570888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}