The Democrat Party is feeling the heat. Their top leaders are selling out.
And Leftists are feeling betrayed after what this top Democrat announced.
New York City is staring down the barrel of a potential property tax hike, courtesy of Mayor Zohran Mamdani’s latest budget bombshell. The Democrat leader rolled out a whopping $127 billion preliminary plan for the 2027 fiscal year, but he’s already sounding the alarm on higher costs for everyday homeowners.
At a Tuesday press conference, Mamdani laid it out plain: as the city’s top official, he has a “legal obligation to balance the budget,” and he vowed to “meet that obligation.” No ifs, ands, or buts about it—he’s determined to plug the holes, but the fixes he’s floating could hit regular folks hard.
Mamdani didn’t mince words about the mess he walked into. His team took over with a massive shortfall hanging over their heads, but through tough cuts, constant tweaks to revenue forecasts, and a bailout from Governor Kathy Hochul, they’ve slashed that gap “from an initial $12 billion to $5.4 billion.”
Still, that lingering $5.4 billion hole isn’t going away on its own. The mayor outlined a fork in the road for closing it, with one option targeting the ultra-wealthy and big businesses, and the other slamming property owners across the board.
“There are two paths to bridge this gap,” Mamdani declared. He pushed the first as the smarter, more equitable route: “The first is the most sustainable, and the fairest path. This is the path of ending the drain on our city, and raising taxes on the richest New Yorkers, and the most profitable corporations. The onus for resolving this crisis should not be placed on the backs of working and middle-class New Yorkers.”
He warned that ignoring this approach would just kick the can down the road. “If we do not fix this structural imbalance, and do not heed the calls of New Yorkers to raise taxes on the wealthy, this crisis will not disappear. It will simply return, year after year, forcing harder and harsher choices each time,” the mayor stated.
Failing to act on that, Mamdani said, leaves the city no choice but to take the painful alternative. “If we do not go down the first path, the city will be forced down a second, more harmful path. Faced with no other choice, the city would have to exercise the only revenue lever fully within our own control. We would have to raise property taxes. We would also be forced to raid our reserves.”
He labeled these fallback measures as “the options of last resort.”
Diving into the details of his preferred fix, Mamdani called for teaming up with state lawmakers to jack up personal income taxes by two percent on the roughly 33,000 high-rollers pulling in over a million bucks annually. On top of that, he’d hike rates on the biggest corporate earners to bring in the needed cash.
But if that doesn’t fly, brace for impact: a staggering 9.5 percent jump in property taxes. Mamdani admitted this would slam “working and middle-class New Yorkers who have a median income of $122,000,” turning their homes into yet another cash cow for City Hall.
The ripple effects? Massive. We’re talking hits to “over 3 million residential units and over 100,000 commercial buildings,” according to the mayor.
This isn’t the first time Mamdani has pointed fingers over the fiscal fiasco. Back in January, he pinned the blame squarely on his predecessor, fellow Democrat Eric Adams, for the original $12 billion black hole.
“There is a massive fiscal deficit in our city’s budget to the tune of at least $12 billion,” Mamdani charged then. “We did not arrive at this place by accident. This crisis has a name, and a chief architect.”
For hardworking New Yorkers tired of endless tax grabs, this latest pitch from City Hall smells like more of the same liberal playbook—promise to soak the rich, but end up dipping into everyone’s pockets when push comes to shove.
As the debate heats up, one thing’s crystal clear: if property taxes spike, it’s the average Joe footing the bill for years of big-spending policies that got us here in the first place. Time for real accountability, not just more hikes.
