Greg David, contributor covering fiscal and economic issues for THE CITY and director of the business and economics reporting program and Ravitch Fiscal Reporting Program at the Newmark Graduate School of Journalism, talks about the city's fiscal woes and Mayor Mamdani's preliminary budget proposal, which includes a property tax hike.

photo:  Mayor Zohran Kwame Mamdani releases the Fiscal Year (FY) 2027 Preliminary Budget. City Hall. Tuesday, February 17, 2026. Credit: Ed Reed/Mayoral Photography Office.

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