'It will put us in a hole' Ralliers at City Hall express concern over possibility of a property tax increase
It comes weeks after Mayor Zohran Mamdani put out a plan to fix a $5.4 billion gap in the city’s budget.
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Tenants, city officials and organizations alike took to the steps of City Hall on Monday to speak out against the possibility of a property tax hike.
It comes weeks after Mayor Zohran Mamdani put out a plan to fix a $5.4 billion gap in the city’s budget.
News 12 previously reported that Mamdani said the first option is a 2% tax increase on the city’s top earners and corporations. However, if that falls through, a 9.5% property tax increase could be on the table. News 12 previously reported Gov. Kathy Hochul has agreed to allocate $1.5 billion in additional funding over the next two years, but maintains her opposition to raising taxes on the wealthy.
Maria Garrett, a 30-year Canarsie resident, says the property tax increase would be detrimental.
“It will put us in a hole. We will be at a deficit because most of the people where we live in Canarsie, we are retirees and we are on a fixed income," said Garrett.
The property tax increase would impact over 3 million residential units and 100,000 commercial buildings. Garret says the impacts would be felt deeply in Canarsie.
“We have to pay flood insurance. And now flood insurance is up or up. You know, since Sandy, they raise up absolutely all to pay flood insurance. So, we are going to be hit really hard," said Garrett.
News 12 previously reported that the mayor established a chief savings officer in each city agency to identify recurring savings through efficiencies and program consolidation, including eliminating or sunsetting programs by March 20.
Also, the comptroller’s office plans to release an updated analysis of the city’s financial health on March 11.
“We are the glue that keeps the city together - the middle-class people. So, we are not even going to anticipate or entertain it," said Garrett.
News 12 reached out to Mayor Mamdani's office for an update, but has not yet heard back.
