Mamdani ditching planned NYC property tax hike in budget plan — Bloomberg

Laura Nahmias / Bloomberg

May 12

The decision to drop the tax hike is expected to be included in the New York City mayor’s executive budget on Tuesday, according to a person familiar with the matter. (May 12): New York City Mayor ...

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(May 12): New York City Mayor ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/us-economy/mamdani-ditching-planned-nyc-property-tax-hike-budget-plan--bloomberg?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mamdani ditching planned NYC property tax hike in budget plan — Bloomberg</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMamdani ditching planned NYC property tax hike in budget plan — Bloomberg\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-12 15:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/us-economy/mamdani-ditching-planned-nyc-property-tax-hike-budget-plan--bloomberg?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Laura Nahmias / Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The decision to drop the tax hike is expected to be included in the New York City mayor’s executive budget on Tuesday, according to a person familiar with the matter. (May 12): New York City Mayor ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/us-economy/mamdani-ditching-planned-nyc-property-tax-hike-budget-plan--bloomberg?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NYC","symbol_name":"American Strategic Investment","start_time":0,"source_url":"https://www.theedgesingapore.com/news/us-economy/mamdani-ditching-planned-nyc-property-tax-hike-budget-plan--bloomberg?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2635273559","we_media_id":null,"thumbnails":[],"rights":{"source":"edge_highlight","url":"https://www.theedgesingapore.com/news/us-economy/mamdani-ditching-planned-nyc-property-tax-hike-budget-plan--bloomberg?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2635273559","pubTimestamp":1778569872,"columns":[],"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"The decision to drop the tax hike is expected to be included in the New York City mayor’s executive budget on Tuesday, according to a person familiar with the matter. ","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NYC":"American Strategic Investment","BK4160":"多样化房地产投资信托v","BK4233":"房地产运营公司"},"translate_title":"马姆达尼在预算计划中放弃了纽约市财产税上调计划-彭博社","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NYC":1.5},"content_text":"The decision to drop the tax hike is expected to be included in the New York City mayor’s executive budget on Tuesday, according to a person familiar with the matter. (May 12): 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. \nThe decision to drop the tax hike is expected to be included in Mamdani’s executive budget on Tuesday, according to a person familiar with the matter. That marks the latest version of the mayor’s spending plan for the fiscal year that begins July 1. \nA tax on second homes that was initiated by New York Governor Kathy Hochul is still being considered as part of state budget negotiations. Details of how the so-called pied-à-terre could be implemented are still unclear. \nEarlier this year, Mamdani threatened to raise property taxes by nearly 10% as a way to lobby Hochul for more funding. He had little support for an across-the-board increase, with City Council members including Speaker Julie Menin opposing the plan. Any increase would have needed to be passed by that chamber.\nHochul and Mamdani announced on Tuesday that the state would provide an additional US$4 billion ($5.1 billion) in new support for the city to help close the budget gap. \nMamdani’s preliminary budget proposal alarmed credit rating companies, who changed their outlook on the city to negative, citing the city’s long-term structural deficits. The mayor also had proposed sweeping nearly US$1 billion from the city’s savings, which are supposed to be used in times of fiscal calamity, to help close the gap. \nFor months, Mamdani has raised warnings for the city’s financial situation — calling it “a generational fiscal crisis” that rivals the Great Recession. He has repeatedly called for higher taxes on the wealthy and corporations to help right New York City’s budget, though those asks have been met with resistance by Hochul. \nRaising property taxes was one of the few actions to address New York City’s financial challenges that would not have required state approval. Other changes, including altering the income or corporate levies, would require sign-off from Albany. \nUploaded by Tham Yek Lee","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}