"More than one local Dem exclaimed "It's an election year!" when asked about Mamdani's brash demand Tuesday that Hochul and Albany either pass a 2% increase on millionaires - or he'd be "forced" to hit New Yorkers with a 9.5% property tax hike to balance the city's budget. "Middle class homeowners shouldn't be used as a bargaining chip," Queens Borough President Donovan Richards said in an interview."
"Richards feared Mamdani's big move could jeopardize the Democratic Party's momentum going into the November election season, where Hochul, who is running for re-election, will be at the top of the ticket. "We don't want to give Republicans talking points while we're trying to win back the House of Representatives," he said. State Assemblyman Michael Benedetto, a Bronx Democrat, agreed, saying bluntly: "I'm not enthusiastic about raising taxes in an election year.""
Mayor Zohran Mamdani proposed a preliminary $127 billion budget and demanded a 2% income tax increase on millionaires to close an estimated $5.4 billion fiscal shortfall. He warned that absent state approval he would be forced to impose a 9.5% property tax increase to balance the city's books. Local Democrats expressed concern that pursuing higher taxes during an election year could damage party prospects and provide Republicans with campaign ammunition. Gov. Kathy Hochul has opposed raising income and property taxes while Republicans criticized state funding decisions. Tensions over budget choices have heightened political stakes ahead of the November elections.
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