New York City is in the grips of its worst housing shortage in more than 50 years. Only 1.4% of apartment rentals are available, and the typical New York City household pays more than half of its $70,000 income on rent.
Zohran Mamdani’s plan could dramatically change tax bills throughout New York City by ensuring properties like Ken Griffin’s Central Park South apartment are taxed closer to their actual sales value, reflecting a need for a systemic overhaul in the property tax system.
"As someone who works in government, I see a person who isn't just throwing things at the wall. I didn't get the impression that he was not open to changing his mind. And that's a characteristic that's important in someone who's in public office."
