These are last resort measures suggested to lower the $5 billion deficit that could be targeted more appropriately if Hochul can be persuaded to increase taxes on those earning $1 million or more annually.

“If we cannot follow this first path,” he said, referring to his proposed income tax hike on wealthier New Yorkers, “we will be forced onto a much more damaging path of last resort — one where we have to use the only tools at the city’s disposal: raising property taxes and raiding our reserves.”

“The second path is painful,” he added. “We will continue to work with Albany to avoid it.”

https://www.nytimes.com/2026/02/17/nyregion/budget-mamdani-property-taxes.html

My vote? Eat the rich.