New York City’s Democratic-socialist Mayor Zohran Mamdani has issued an ultimatum to Albany: tax the ultra-wealthy or face a "last resort" 9.5% property tax hike to plug a $5.4 billion deficit.While Mamdani claims he’s protecting the working class, real estate insiders say the plan is a math-defying disaster that will drive up rents and accelerate the flight of taxpayers to low-tax states like Florida and Texas."Even the discussion of a 9.5% hike is enough to influence buyer behavior and cause irritations in the market," Douglas Elliman’s Ben Jacobs told Fox News Digital. "Some buyers have con...

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