The city and property tax reform advocates have agreed to begin court-supervised settlement negotiations that could reshape how New York City taxes real estate, according to The City Reporter. Talks between the Mamdani administration and the coalition Tax Equity Now New York, known as TENNY, are slated to start in October and will be overseen by the court, per TENNY.

TENNY filed a lawsuit in 2017 aiming to get the courts to force property tax reform. The City Reporter has described the city’s property tax system as byzantine and unequal, a problem for generations of mayors. Under the settlement agreement reached last month, the city and TENNY will negotiate the structure and implementation of state property tax law.