New York City Mayor Zohran Mamdani (D) unveiled a $127 billion budget plan Wednesday that would suspend the city’s lien sale for recovering property tax debt and increase the number of auditors at the Department of Finance.
Mamdani’s preliminary budget for the fiscal year that begins July 1 assumes an $80 million revenue loss from the suspension of the tax lien sale as officials work on replacing the program, which has been cited in the past for causing disproportionate harm to Black and Hispanic neighborhoods.
The New York City Council passed legislation last year that would instead establish a land ...