New York City Mayor Zohran Mamdani has ditched his plan to raise New Yorkers’ property taxes — an unpopular measure he threatened to use to help close a two-year deficit.
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Send a tip to our reporters Site feedback: Take our Survey New Window Facebook X LinkedIn Email Link Gift By Laura Nahmias May 12, 2026 at 2:17 PM UTC Updated on May 12, 2026 at 6:44 PM UTC Bookmark Save New York City Mayor Zohran Mamdani has ditched his plan to raise New Yorkers’ property taxes — an unpopular measure he threatened to use to help close a two-year deficit.
The decision to drop the tax hike came as Mamdani unveiled a $124.7 billion executive budget on Tuesday — the latest version of the mayor’s spending plan for the fiscal year that begins July 1.
