Mayoral Race
I have to admit this headline in a story in today’s Wall Street Journal made me stop and stare –
Mamdani Warns of Nearly 10% Property-Tax Boost if No Tax on Wealthy
New York City mayor says ‘drastic measures’ might be needed to fund his proposed budget
Yes, this is the newly-elected radical ‘democratic socialist’ mayor of New York City being quoted, and he is saying the ‘drastic measure’ of a 9.5% hike in property taxes will be needed to fund his budget if Governor Hochul does not agree to increase taxes on corporations and the wealthy – something only the governor of NY state can do, apparently.
My goodness, drastic measures. Here is what the property tax rates have done here in London, Ontario over the last three years: an increase of 8.7 per cent (2024), 7.3 per cent (2025) and 3.4 per cent (2026).
The increase in this third year was originally set to be over 7 percent, until someone in the Mayor’s office last year looked at a calendar and noticed that there is a municipal election in 2026. Still, with compounding (yes, it applies to tax increases, too) that adds up to twice Mamdani’s measly 9.5.
With property tax hikes over three years like that, do we have city-run grocery stores in London? Nope. Free busses? Not a chance. Free universal child care for all Londoners? I think the province has some kind of $5/day thing, but not free, certainly, and not funded by the city in any case.
What does London have?
Well, we have been told the city blew through the entire season’s snow-clearing budget by last January. Oh, and some 500 businesses and non-profit organizations that used to have their recycling blue-boxes picked up every week just like us homeowners, have been told they are going to lose that service. City won’t take on the cost to do it.
I don’t think London’s illustrious mayor, Josh Morgan, has ever called himself a Democratic Socialist. I’ve called him a few things, but never that.
If Mamdani can pull off all his campaign promises with a one-time 9.5% property tax hike in NYC, he’s a freaking wizard.
I know, I know, you’re thinking – ‘Al, don’t be so naïve. He’s only threatening the 9.5% hike for one year now to distract people. Just like London’s Josh and the Gang, he will be back for further increases in succeeding years, at least until another NYC municipal election looms.’
Perhaps that is so. I am not a huge fan of Margaret Thatcher, UK Prime Minister in the 80s. She was probably a tonic that the UK needed back then, but was also not the sharpest politician of the 20th century, by a long shot.
She is credited with at least one well-aimed phrase, however: ‘The problem with socialism is that you eventually run out of other peoples’ money.’
So, perhaps we should all just sit back and see if Zohran or Josh run out first. Or who gets run out first.
I’ve got a dog in this race, so you know who I’ll be rooting for.