Mamdani may be raising taxes on property owners by 9.5%. The mayor has been asking New York State for more help to bridge the city’s budget deficit and raise more revenue to fulfill parts of his promised affordability-first agenda including faster, free city buses and universal free childcare. Part of his ask: raise taxes on New Yorkers who earn more than $1 million per year. Governor Kathy Hochul, running for re-election, has said she does not support the tax increase. Mamdani said the property tax increase is a “last resort” but that hasn’t assuaged the fears of individual home owners, many of them longtime and older New York City residents and working class people Mamdani has vowed to help.