NYC’s Adams Pledges to Fix Property Tax Inequities in First Year

(Bloomberg) -- New York City mayoral candidate Eric Adams pledged to resolve inequities in the city’s property tax in his first year in office if he is elected on Nov. 2.

“We must have a fairer system, and I believe it should be done immediately,” the Democratic nominee said in an interview Friday on Bloomberg Television’s Balance of Power. “It is my desire to get this resolved within the first year. Let’s put together a task force that sits down and comes up with real recommendations and solutions.” 

“It is unfair and has been unfair for far too long,” he said.

New York’s property tax provides more than 40% of the city’s annual tax collections. A Bloomberg News investigation found the system is flawed in a way that benefits the rich, skewing the property tax burden to middle- and lower-income homeowners and renters.

Adams’ 40-point lead ahead of Republican challenger Curtis Sliwa all but assures he’ll win the Nov. 2 mayoral election. He’s centered his campaign on enhancing public safety and has vowed the city will be more welcoming of businesses under his watch.

The Brooklyn borough president also reiterated his support for a vaccine mandate for schoolchildren if health officials endorse the practice and said he plans to focus on police deployments in the city’s subway to make New Yorkers feel more confident riding the train to work. He urged Mayor Bill de Blasio to work with police and municipal unions to limit staffing shortages and boost compliance with a Friday vaccine mandate for city workers.

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