Mamdani backs down from property tax hike

New York City Mayor Zohran Mamdani has ditched a nearly 10% property tax hike in his budget proposal, a “last resort plan” to balance the city’s budget gap. The New York City Council will vote on the budget by the end of June. CNN’s Katherine Koretski breaks down Mamdani’s tax measurements. #cnn #news #newyorkcity