Kevin O’Leary is expressing support for New York City Mayor Zoran Mamdani’s suggested property tax increase of 9.5%, labeling it as “bat madness” and predicting it might earn Mamdani “Realtor of the Year” accolades.
“This proposal is, frankly, outrageous—but, you know, I think there’s some merit to it. If you’re living here, you really ought to be contributing your fair share, maybe even more. He’s not reducing spending, which does seem like the right call,” O’Leary mentioned on CNN’s “News Night.”
On that same day, Mamdani indicated that significant tax hikes were part of his proposed $127 billion budget, threatening Albany and Governor Kathy Hochul to consider income tax increases for billionaires.
Mamdani characterized the tax increases as a “last resort,” stating they would only be enacted if he couldn’t reach an agreement with the state government.
“The second path is a last resort, an option that is only taken when there’s no alternative for a balanced budget,” he clarified.
O’Leary contended that such tax hikes might lead many New Yorkers to leave, inadvertently boosting his business interests in Florida.
Encouraged by a moderator, O’Leary joked that he might soon meet Mamdani in Miami to award him the “Realtor of the Year” title, expressing his frustrations over the growing influx of New Yorkers into his neighborhood. “I’m really not keen on this change,” he said.
In the discussion, O’Leary was asked to tone down his excitement while debating the area’s income tax trends. He responded, “I’m not upset—I’m actually excited because I want you all to contribute, not me.”
In related comments, “The View” co-host Ana Navarro supported O’Leary’s points, noting that wealthy individuals often find ways to evade taxes, whether through loopholes or relocating to places like Indian Creek in Florida.
“It’s not about those making a million a year; the real concern is the billionaires who might flee,” she added.
