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NY mayor seeks 'mansion tax', cap on property-tax break

MR DE BLASIO: 'We are turning the page, and making sure the same pressures that have pushed New Yorkers out of their neighbourhoods are harnessed to build the next generation of affordable housing.'

New York

NEW York Mayor Bill de Blasio plans to call for changes to a state property-tax abatement law that would force housing developers to create more affordable units.

The proposal, which would need approval from the New York Assembly and Senate, would require builders to set...

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