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New York City Mayor Zohran Mamdani smiles during an address marking his first 100 days in office at the Knockdown Center, Sunday, April 12, 2026, in New York. (AP Photo/Andres Kudacki)

New York’s property tax hike chases wealthy wallets away

New York Mayor Zohran Mamdani faces an uphill battle balancing the city’s budget while ushering in his very expensive socialist utopia. But rest assured: New public bathrooms and free opera tickets are still coming, and the ultra-wealthy will foot the bill. Or so the plan goes. Predictably, his “tax the rich” mantra is already going beyond New York socialites.

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