Mayor Mamdani's budget proposal for New York City aims to balance the budget, addressing an inherited $12 billion deficit, contingent on the passage of the proposed 'pied-à-terre' tax.

Mayor Zoran Mamdani's budget proposal for New York City aims to balance the budget, which included a $12 billion deficit, by incorporating revenue from the proposed pied-à-terre tax.

New York City Mayor Zoran Mamdani proposed a 'pied-à-terre' tax on second homes with an assessed value of $5 million or more, which is projected to raise at least $500 million for the city.

New York City Mayor Zoran Mamdani proposed a "pied-à-terre" tax on second homes with an assessed value of $5 million or more.

New York City politician Zohran Mamdani has paired his policy of rent freezes with a policy to help developers build more housing.

Zohran Mamdani's "Neighborhood Builders Fast Track" initiative aims to reduce pre-development time for new housing projects from 18 months to 10 months by creating a pre-qualified roster of developers...