""Do you make more than $1 million or more a year?" Mamdani jokes with the host as he shakes his head no. "Then your taxes are not going up. The only taxes that we are proposing are on the 1% of New Yorkers who make $1 million or more a year," he says in the video, which has raked in 1.1 million likes on Instagram."
"But after Mamdani threatened New Yorkers this week with a 9.5% property tax hike, the video started making the rounds again. "This did not age well ... Property taxes going up for all. Good job NY," one user said. Another commenter posted a meme declaring, "This was all a dream." On Tuesday, the Democratic socialist mayor unveiled his record $127 billion preliminary budget proposal, and announced the eye-popping 9.5% proposed property tax hike on New Yorkers."
Mayor Zohran Mamdani had repeatedly promised to only pursue tax increases on New Yorkers earning $1 million or more. A viral Subway Takes video captured that pledge and circulated widely online. After unveiling a $127 billion preliminary budget, Mamdani proposed a 9.5% property tax increase to help close a $5.4 billion budget gap unless Albany and Gov. Kathy Hochul approve an income tax increase on millionaires. Social media users resurrected the earlier pledge and criticized the proposal. The property tax plan drew sharp online backlash and prompted concern from housing industry officials.
Read at New York Post
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