New York City Mayor Zohran Mamdani is quickly going to remind New Yorkers that electing a communist means much higher taxes and uncontrolled spending.
Mamdani’s budget proposal for fiscal 2027 totals $127 billion in spending. That is about $11 billion more than last year’s budget. It is also about $10 billion more than the budget for the state of Florida, which has around 15 million more residents than New York City.
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Mamdani is proposing to hit this spending level by raising property taxes by 9.5%, the first property tax hike in the city since 2003. Mamdani also wants to raid the city’s “rainy day” fund and retiree healthcare reserves to pick up another $1.2 billion. Mamdani is doing this to manipulate voters emotionally, saying that he won’t need to take these steps if the New York state government imposes higher taxes on corporations and millionaires.
If Gov. Kathy Hochul (D-NY) and New York state Democrats do not roll over for Mamdani — and it appears that they won’t — that means that the mayor will be heavily taxing everyday New Yorkers. All of this comes as Mamdani refuses to cut spending and, in fact, increases it, viewing government spending itself as almost sacred. New York City is facing a budget gap of some $5 billion.
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Mamdani’s policies are going to bring New York City to a boiling point, as he plans to implement this property tax hike while forcing landlords to freeze rent prices. Mamdani is on pace to leave even more New York City apartments vacant, worsen the city’s housing crisis, and run smaller property owners out of business. The only saving grace, for now, is that members of the New York City Council may not be on board with making life for New Yorkers even more expensive to fill Mamdani’s grand “socialist” vision.
This was always how Mamdani’s run as mayor was going to go. Grand promises that heavily taxing the rich could fund utopia always end in massive tax hikes and cost-of-living increases on everyday people, and Mamdani isn’t going to be the one to break the cycle any time soon. New York City voters elected a communist, and they are going to get the policies they so desperately craved, along with a higher tax bill and a greater affordability crisis than they started with just a few months ago.
