{"id":183059,"date":"2026-04-02T02:52:21","date_gmt":"2026-04-02T02:52:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/183059\/"},"modified":"2026-04-02T02:52:21","modified_gmt":"2026-04-02T02:52:21","slug":"council-says-it-closed-nyc-budget-gap-without-property-tax-hike","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/183059\/","title":{"rendered":"Council says it closed NYC budget gap without property tax hike"},"content":{"rendered":"

NEW YORK CITY (PIX11) \u2013 The New York City Council says it found $6 billion to close the city budget gap without increasing city property taxes.<\/a><\/p>\n

Mayor Zohran Mamdani<\/a> has threatened to hike property taxes to close a $5.4 billion budget gap. A property tax increase would have to go through the City Council, and Speaker Julie Menin has said it\u2019s a \u201cnon-starter.\u201d<\/p>\n

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On Wednesday, Menin said the council has found an alternative plan that would save the city a whopping $6 billion over two fiscal years.<\/p>\n

The council argues that Mamdani underestimated revenue sources, including construction late fees and increased rent from the Port Authority.<\/a> The council believes the mayor also overestimated personnel costs to include positions that haven\u2019t been filled for much of the past year.<\/p>\n

The council suggested adjustments to the state\u2019s expensive class size mandate<\/a> and increased red-light camera enforcement.<\/a><\/p>\n

The mayor rejected Menin\u2019s budget analysis outright, accusing the council of double-counting already found savings. He has said property taxes are a last resort option if Gov. Kathy Hochul refuses to increase taxes on wealthy New Yorkers, but some new revenue stream is necessary.<\/p>\n

\u201cSpeaker Julie Menin\u2019s preliminary budget proposal would result in slashing billions of dollars from agency budgets, which would force the City to cut services,\u201c Mamdani said in a statement. \u201cAny proposal that claims we can close this gap without significant new revenue is unrealistic.\u201d<\/p>\n

Emily Rahhal is a digital reporter who has covered New York City since 2023 after reporting in Los Angeles for years. She joined PIX11 in 2024. See more of her work here <\/a>and follow her on Twitter here<\/a>. <\/p>\n

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