MAMDANI’S FIRST BUDGET: Mayor warns property taxes could rise without new taxes on rich and corporations

Tuesday, Feb. 17, marks the 48th day of Zohran Mamdani’s term as mayor. amNewYork is following Mamdani around his first 100 days in office as we closely track his progress on fulfilling campaign promises, appointing key leaders to government posts, and managing the city’s finances. Here’s a summary of what the mayor did.

Mayor Zohran Mamdani sharpened the stakes of New York City’s budget negotiations Tuesday, proposing a 9.5% property tax rate increase while warning it could be unavoidable unless Albany agrees to raise taxes on the city’s wealthiest residents and most profitable corporations — even as City Council leaders said property tax hikes should not be on the table.