Faced with Gov. Kathy Hochul’s continued resistance to raising taxes on wealthy individuals and corporations, Mayor Zohran Mamdani will push for an increase in property taxes instead.
The mayor is expected to present this alternative during his preliminary budget address later Tuesday at City Hall, floating something that hasn’t been done since Mayor Michael Bloomberg.
“We do have a big gap to fill, and he’s put a pretty extreme option on the table, which is a combination of raising property taxes and taking money from reserves and relying on some pretty aggressive revenue projections to boot,” Comptroller Mark Levine said Tuesday morning, after he was briefed on the plans…