In a historic move, the Rent Guidelines Board voted to freeze rents for New York City’s roughly one million rent-stabilized apartments. Beginning Oct. 1, that means a zero percent increase for leases, affecting around two million New Yorkers. NewsNation's Marcus Espinoza has more. Start your day with "Morning in America," NewsNation's live three-hour national morning newscast hosted by Markie Martin. Weekdays starting at 6a/5C. #MorningInAmerica NewsNation is your source for fact-based, unbiased news for all Americans.
PULSE POINTSWHAT HAPPENED: New York City Mayor Zohran Mamdani (D) proposed a 9.5 percent property tax hike in his $127-billion preliminary budget to close a projected $5.4-billion budget gap.WHO WAS INVOLVED: Zohran Mamdani, Governor Kathy Hochul (D), the New York Apartment Association (NYAA), and the City Council.WHEN & WHERE: The budget proposal was unveiled this […] The post Mamdani Tax Hike ‘Will Drive Thousands of Buildings Into Bankruptcy.’ appeared first on The National Pulse .
PULSE POINTS WHAT HAPPENED: New York City Mayor Zohran Mamdani (D) proposed a 9.5 percent property tax hike in his $127-billion preliminary budget to close a projected $5.4-billion budget gap. WHO WAS INVOLVED: Zohran Mamdani, Governor Kathy Hochul (D), the New York Apartment Association (NYAA), and the City Council. WHEN & WHERE: The budget proposal was unveiled this week in New York City, with implementation aimed for the next fiscal year starting July 1. KEY QUOTE: “Now he is proposing an across the board tax hike that will drive thousands of rent-stabilized buildings into further bankruptcy.” – Kenny Burgos, CEO of the New York Apartment Association. IMPACT: Landlords warn the proposal could bankrupt rent-stabilized properties…Open
