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TaxBuzz Top 5 - Hospitals Brace for Impact as ACA Credits End, Mayoral Frontrunner Mamdani Proposes NYC "Singles Tax" & More

by
Rebekah Barton
on
10/31/2025
TaxBuzz Top 5 - Hospitals Brace for Impact as ACA Credits End, Mayoral Frontrunner Mamdani Proposes NYC "Singles Tax" & More

Each Friday, TaxBuzz brings you the top five tax and accounting headlines you need to know from the workweek. We know life can get busy and you don't always have time to scroll through your news feed to stay informed.

We weed through all of the week's stories to showcase the most important updates in the tax and accounting world.

1. End of ACA Premium Tax Credits Could Deliver a Financial Blow to Hospitals

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Credit: YinYang/Getty Images

The enhanced health insurance premium tax credits under the Affordable Care Act and subsequent legislation like the American Rescue Plan Act are set to expire at the end of 2025 [Medscape], posing major trouble for the healthcare sector. Enrollment in the marketplace insurance plans has more than doubled since the credits expanded—over 24 million Americans rely on them. 

Analysts warn that when these subsidies lapse, average premiums for marketplace enrollees could rise by 114%, and up to 7.3 million people could lose their insurance. Healthcare providers are gearing up for fallout. According to the Urban Institute, hospitals could lose more than $14 billion in revenue while uncompensated care could spike by $6–8 billion in 2026. As Leighton Ku of The George Washington University explained in Medscape's report: “It’s not just the patients who are getting the ACA tax credits who lose out… hospitals and pharmacies lose out too.”

The situation places hospitals—especially those in rural or non-Medicaid-expanded states—on the front lines of an insurance subsidy cliff. If Congress does not act, the healthcare system will likely face serious financial and access strains in 2026.

2. Ohio Counties Largely Shun “Piggyback” Property Tax Relief Option

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Credit: halbergman/Getty Images

We recently shared that Ohio has become something of a property tax battleground, and the saga continues with new news. Despite state lawmakers last spring granting counties the ability to offer added property-tax relief under the so-called “piggyback” provisions of House Bill 96, few Ohio counties have opted in—and many are hesitant because of significant revenue risks.

Under the new law counties may choose to adopt enhanced versions of the state homestead exemption (e.g., for seniors or disabled homeowners) or an owner-occupancy credit. However, the state does not reimburse local taxing entities for the resulting revenue losses. That means any decision to provide the relief must be absorbed locally, rather than being funded by the state.

As one county official explained, “The same families who need tax relief are also the ones who rely on the essential local services that could be impacted … we’re still in the process of understanding the potential impacts.” 

In many counties, commissioners have chosen to wait. The key concerns: schools, fire districts and township services could lose millions of dollars—funds that cannot easily be replaced under current law. For example, in Hamilton County, initial projections showed more than $34 million in lost revenue across local jurisdictions if the piggyback relief were adopted. 

3. NYC Mayoral Candidate Zohran Mamdani Proposes “Singles Tax,” Sparking Debate on Tax Fairness

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Credit: Michael M. Santiago/Getty Images

New York City mayoral frontrunner Zohran Mamdani has revived an idea that’s causing a stir — a “singles tax” aimed at addressing perceived inequities between single residents and families. Though details remain sketchy, Mamdani argues that housing and service burdens disproportionately impact people living alone, and that a targeted tax or fee structure could help rebalance the local tax system. 

Critics, however, say the concept raises serious fairness concerns. They warn it could penalize young professionals, widowed residents, or households without children — groups already vulnerable to housing and cost-of-living pressures in the city. Business and economic leaders express unease. As one platform summary puts it: “His platform calls for raising taxes on corporations and those earning above $1 million annually …”

Mamdani’s broader tax strategy includes plans to boost taxes on wealthy New Yorkers and profitable corporations to fund free buses, child care, rent freezes, and city-run grocery stores. While the singles-tax proposal is part of the wider conversation, it is emerging as a flash point in the mayoral contest, touching on themes of equity, household structure, and what the city expects from its residents.

As one analyst noted, “We risk discouraging flexible working and entrepreneurship among highly-skilled workers,” in reference to sweeping changes to tax rules. And, unsurprisingly, wealthy voters have already voiced concerns about potential tax flight. 

In a city where the average year-rounded leaseholder lives alone, any policy that specifically targets “singles” could have outsized cultural and policy implications. This one’s worth watching.

4. Delaware Judge Approves Split-Rate Property Tax Law—New Bills Coming Soon

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Credit: Amy Sparwasser/Getty Images

The Delaware Court of Chancery has upheld a controversial tax reform law allowing for “split‐rate” school property tax rates in New Castle County—paving the way for revised tax bills ahead of the November 30 payment deadline.

Under House Bill 242, the state allows school districts in the county for the 2025-26 tax year to set one rate for residential properties and a higher rate for non-residential properties (commercial, industrial, hotels, etc.). The goal: ease the dramatic tax burden on homeowners following a once-in-decades property reassessment that had increased residential valuations by roughly 400 %. 

In its ruling, Vice Chancellor Lori Will wrote: “In resolving their claims, it is not my job to decide whether HB 242 is fair or wise policy … The question… is a legal one: does HB 242 … violate the United States Constitution, the Delaware Constitution, or state statutes?” And, the answer: No. 

The verdict gives county and school officials the green light to issue new tax bills that reflect the split‐rate structure—likely meaning homeowners will pay less, while many commercial property owners will see larger bills. Still, critics warn the shift simply redistributes the burden rather than reducing overall tax pressure.

For Delaware homeowners, the decision may bring relief. For property owners and service stakeholders, however, it highlights the delicate balancing act between tax fairness, revenue stability, and political optics.

5. Lakeside Haven to Tax Trouble: Wayzata, MN Realtor Charged with Hundreds of Thousands in Unpaid Taxes

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Credit: jimkruger/Getty Images

On the shores of Lake Minnetonka with upscale homes and lakeside beauty, Wayzata, Minnesota is the kind of town where luxury real estate hitting the market is usually the only thing grabbing headlines. But this week the postcard-perfect community found itself in the spotlight, not for its waterfront views, but for a local real-estate professional facing serious tax charges.

Kevin Patrick Mullen, 42, a Wayzata real-estate broker and owner of Ideal Properties & Investments LLC, has been charged by the Minnesota Department of Revenue in Hennepin County with five felony counts of failing to file individual tax returns and five counts of willfully failing to pay income tax for the period 2019–2023. 

According to court documents, Mullen has unpaid tax obligations totaling nearly $397,000. Despite prior filings and engagement with tax authorities, the allegations say he neglected to submit timely returns for multiple years, even after being contacted by the department. 

For Wayzata—a town where real-estate values often reflect the lake’s edge rather than middle-class ballast—this case serves as a reminder that even those accustomed to high-end transactions aren’t outside the reach of tax enforcement. It is also indicative of the increasingly complex compliance environment for agents and investors operating in affluent markets nationwide.

Mullen’s first court appearance is set for November 12.

Which headline this week most interests you?

Feature Image Credit: Andres Kudacki/Getty Images

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Rebekah Barton

Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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