NYC Mayor Zohran Mamdani has withdrawn a proposed property tax increase on middle-income New Yorkers after Gov. Hochul secured $8 billion in state funding for the city's budget gap.

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Zohran Mamdani is scrapping a potential NYC property tax hike.
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NYC Mayor Zohran Mamdani is walking back a last-ditch proposal to hike city property taxes.
Gov. Kathy Hochul secured $8 billion for the city, which would help bridge the current budget gap.
Hochul and Mamdani still want to target multimillion-dollar second homes with a new tax.

Mayor Zohran Mamdani is officially killing his property tax hike proposal for working New Yorkers, a City Hall source 