Most New Yorkers will not have to worry about seeing their property tax rates go up soon. But for a small number of those who own luxury second homes in the city, the prospect is still alive.
Politics Facebook X LinkedIn Email Link Gift Expand Zohran Mamdani during a news conference presenting the fiscal year 2027 executive budget at City Hall on May 12.
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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 8:52 PM UTC Bookmark Save Most New Yorkers will not have to worry about seeing their property tax rates go up soon. But for a small number of those who own luxury second homes in the city, the prospect is still alive.
Mayor Zohran Mamdani on Tuesday ditched an earlier proposal to broadly raise property taxes by nearly 10%. Instead, his executive budget aims to close New York’s deficit with savings and more aid from Albany.
