NYC Mayor Threatens Property Tax Hike

Mamdani says tax increase could be last resort to get more state funding

Published on Feb. 20, 2026

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New York City Mayor Zohran Mamdani has warned that he may raise property taxes by nearly 10% as a way to pressure Governor Kathy Hochul for more state funding for the city. The mayor says this would be a last-resort measure if negotiations with the state government fail to secure additional resources.

Why it matters

Property tax hikes are politically sensitive and can impact residents and businesses. However, the mayor argues the city needs more state aid to maintain services and infrastructure. This showdown highlights the ongoing fiscal challenges facing many major cities.

The details

Mayor Mamdani has been in negotiations with Governor Hochul's administration over the city's budget and funding needs. He has warned that if the state does not provide more resources, he may be forced to raise property taxes by as much as 9.8% to cover shortfalls. The mayor says this would be a last resort, but he is willing to take this step to secure the funding the city requires.

  • Mayor Mamdani issued the tax hike threat on February 18, 2026.

The players

Zohran Mamdani

The current mayor of New York City, who is threatening a property tax hike as leverage to get more state funding for the city.

Kathy Hochul

The governor of New York, who is in negotiations with Mayor Mamdani over the city's budget and funding needs.

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What they’re saying

“We must not let the state shortchange New York City. I'm willing to take this drastic step, but I hope it doesn't come to that.”

— Zohran Mamdani, Mayor of New York City (NDTV)

What’s next

The mayor and governor are expected to continue negotiations over the city's budget in the coming weeks. A decision on whether to raise property taxes will likely be made in the next few months.

The takeaway

This standoff between the mayor and governor highlights the ongoing fiscal challenges facing many large cities, which often rely on state funding to maintain services and infrastructure. The potential property tax hike could have significant impacts on residents and businesses in New York City.