February 20, 2026
Feet to The Fire on Property Taxes
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Newsweek interviewed me for Mamdani’s Property Tax Plans Holding Hochul’s Feet to Fire, Expert Says. It reads, in part,
New York City Mayor Zohran Mamdani’s proposal for a 9.5 percent property tax increase in the city is a way of holding Governor Kathy Hochul’s “feet to the fire,” according to David Reiss, professor of law at Cornell Tech and Cornell Law School.
Mamdani said this week that he was proposing the increase in property tax rates in New York City as an option if he could not persuade the governor to approve higher taxes on the wealthy.
“It’s very interesting, because Mamdani endorsed her in her race for governor, which is this year,” Reiss, an expert in real estate, told Newsweek, pointing at the strong relationship that the two have maintained until now.
Not only is the 34-year-old mayor backing Hochul in her reelection bid, but he also told organizers of a Tax the Rich rally in Albany, planned for February 25, that he would likely not attend the event because he does not want to antagonize the governor, as reported by The New York Times.
“So he’s done some things that are very good for her, but then he’s kind of holding her feet to the fire and saying that Albany can make the situation much better in New York, and this is how I want you to do it,” Reiss said.
“‘I want to raise taxes on the wealthy, and the backup—because I want more revenue for the city—would be my property tax hike, but I acknowledge that it’s painful,’” he added. “’I acknowledge that that’s unpleasant, but I want to hold your feet to the fire on the income tax increase.’”
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“I think Mayor Mamdani is trying to set the terms of the debate and kind of trying to allocate blame for the budget deficit that the city’s about to face,” Reiss said. “And so he’s trying to say, ‘I have a path forward, but it requires partners in government to help with that path forward,’” he added.
“And so, he’s kind of trying to set up a dynamic where, when blame is allocated for budget cuts and promises unkept, he could say he did his best to make this happen, but partners in government are not playing ball with him.”
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For Reiss, the unfolding tension between Mamdani and Hochul over a “rich tax” in New York is a reflection of a bigger split within the Democratic Party nationwide.
“I think both in New York and nationally, what we’re seeing is the economically progressive wing of the Democratic Party, as reflected in Mamdani, represents a push to reallocate resources away from the very wealthy towards the low-income and working class constituents,” Reiss said.
Mamdani, he thinks, is doing a good job at setting that debate up. The question is, he said, which wing of the party will win.
“It’s an interesting question in a majority Democratic state like New York, where both the governor and the mayor are Democrats. But it’s also going to be interesting in jurisdictions where you might have a Democratic mayor and a Republican governor, especially as we go to the congressional midterms,” he added.
“Republicans are going to talk about Socialist Democrats and Democrats are going to talk about billionaire-loving Republicans. And voters will have to decide, you know, which vision of America they agree with more.”
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Voters, Reiss said, are sophisticated enough to understand that Mamdani might not keep all of his campaign promises, and might be willing to cut him some slack because he has already delivered some important reforms.
“For Mamdani, a very early win was getting the governor to go along with the child care proposal, which is, I think, fulfilling a major campaign promise,” he said.
“I think he now has the ability, because he’s been able to appoint a majority to the rent guidelines board, to encourage the board to implement a rent freeze, and that was a major campaign promise,” Reiss added.
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