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Mamdani Releases 2025 Tax Return Showing $145,000 Income and $1,643 in Rap Royalties

The filing offers a plain look at pre-mayoral finances that will color debates over his plan to tax high-value second homes.

Overview

  • His joint tax return, shared with reporters Thursday, listed $131,296 from his State Assembly salary and $10,010 from his wife’s graphic design work.
  • He reported $1,643 in music royalties from his brief rap career, a modest uptick tied to more streaming during his 2025 campaign.
  • The couple is due a $7,011 refund, and they used the standard deduction, so any charitable giving does not appear on the filing.
  • This return covers earnings before he took office; his mayoral salary in 2026 is $258,750, which will change next year’s numbers.
  • City Hall released the documents for review but not public posting, reflecting a transparency practice past mayors followed as reporters compare disclosures across administrations.