NYC Real Estate Experts Sound Alarm Over Mayor Mamdani’s “Math-Defying” 9.5% Property Tax Plan
the staff of the Ridgewood blog
New York NY, New York City is facing a fiscal crossroads that has the real estate industry on high alert. Democratic Socialist Mayor Zohran Mamdani has issued a stark ultimatum to Albany: tax the ultra-wealthy and corporations to plug a $5.4 billion budget deficit, or trigger a “last resort” 9.5% property tax hike.
