The suggested 9.5 percent increase would affect more than three million single-family homes, co-ops and condos and over 100,000 commercial buildings, Mr. Mamdani said as he delivered his preliminary spending plan.

The mayor acknowledged that his proposal would not merely force the wealthy to pay more taxes, but would also be a “tax on working- and middle-class New Yorkers,” and stressed that this was not his first choice.

Welp.