New York City Mayor Zohran Mamdani has issued a budget ultimatum: Albany must approve a 2% tax on millionaires or the city could implement a 9.5% property tax increase to cover a $5.4 billion deficit.
February 18, 2026
New York City Mayor Zohran Mamdani has issued a budget ultimatum: Albany must approve a 2% tax on millionaires or the city could implement a 9.5% property tax increase to cover a $5.4 billion deficit.