NEW YORK \u2014 New York City Mayor Zohran Mamdani appointed Richard Lee, one of the City Council\u2019s top budget negotiators, as his Department of Finance commissioner Friday.<\/p>\n
The move comes as the mayor and council are in the midst of hashing out the city budget for the upcoming fiscal year \u2014 a process that already become tense as the city seeks to fill a multibillion-dollar budget gap<\/a>.<\/p>\n \u201cI\u2019m proud to appoint Richard Lee as our next Commissioner of the Department of Finance,\u201d Mamdani said in a statement. \u201cHis command of the City\u2019s budgeting process makes him uniquely qualified to lead the Agency and ensure that our City continues meeting New Yorkers\u2019 needs.\u201d<\/p>\n The department administers the city\u2019s tax laws, collects more than $50 billion in annual revenue and manages New York City\u2019s property taxes<\/a> \u2014 an area that\u2019s gotten more attention with the mayor\u2019s recent proposal to balance the budget with a property tax rate hike.<\/p>\n \u201cAs a lifelong New Yorker and son of immigrants, I am thrilled to lead the Department of Finance into this new era, one of opportunity and dignity for all New Yorkers,\u201d Lee said.<\/p>\n