Real Estate & Home

Mamdani’s ‘Last Resort’ Tax Hike Could Hit Renters Too

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New York City Mayor Zohran Mamdani threatened to increase property taxes by 9.5% if Albany does not raise taxes on the wealthiest New Yorkers, aiming to close a $5.4 billion budget gap. This move could disproportionately affect renters as landlords may pass increased costs onto tenants in an already tight rental market, leading to higher rent prices and reduced building services even for rent-regulated apartments.

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