One of Mamdani’s most discussed campaign proposals involves adjusting the city’s property tax system to address what his team describes as an imbalance that favors wealthier neighborhoods.
According to a campaign document titled “Stop the Squeeze on NYC Homeowners,” the current property tax system benefits affluent homeowners in areas like Manhattan and parts of Brooklyn through outdated caps on assessments, resulting in lower tax bills for those neighborhoods.
Meanwhile, Black, Latino, and immigrant homeowners in outer borough neighborhoods such as Brownsville and Jamaica face heavier tax burdens and greater risks of foreclosure.
Mamdani’s plan proposes shifting the tax burden from overtaxed homeowners in outer boroughs to wealthier areas, aiming to create a fairer tax structure.
The proposal suggests reducing the taxable assessed values across the city while raising real tax rates in affluent neighborhoods, resulting in lower bills for low-income areas and increased revenue from higher-value properties.
The campaign also highlights issues with “tangled titles” and deed theft, particularly affecting Black communities. This problem occurs when residents live in homes they believe they own, often inherited, but their names do not appear on official deeds, creating legal uncertainties.
To address this, Mamdani proposes a $10 million fund to help residents hire attorneys and resolve these title issues, securing full ownership rights.
Mamdani is affiliated with the Democratic Socialists of America, and his platform includes a commitment to addressing racial and economic inequalities in the city.
His housing plan calls for building 200,000 new publicly funded affordable housing units and implementing an immediate rent freeze for the city’s 2.4 million renters.
Additional measures include multi-year rent control and policies aimed at promoting housing stability.
The campaign also criticizes the current tax lien auction process, which sells overdue property tax debts to private investors, often leading to financial strain for homeowners. Mamdani pledges to end this system and replace it with a more supportive framework, offering payment plans and debt relief options to help residents stay in their homes.
As the mayoral race unfolds, Mamdani’s proposals and Trump’s reactions highlight the growing political debate over New York City’s future direction.