Brooklyn, NY- Council Members Simcha Felder (D-Brooklyn) and James Vacca (D-Bronx) made the following statements regarding the necessity of the City to maintain last year’s 7% property tax rate cut in response to comments made by Mayor Bloomberg that taxes may need to be increased.

Council Member Felder said: “The economic outlook may be bleak, but we’re also working with a surplus.   Regardless of the property tax rate, homeowners will assume a greater tax burden due to the way assessments are structured.  We cannot compound assessment increases with a rate increase, particularly when the same economic indicators that threaten the City’s future balance sheets are already wreaking havoc on everyday New Yorkers’ costs of living.  I hope that the Administration is not playing hardball on other budget items by using the tax rate to throw a slider at the negotiating table.”

Council Member Vacca said: “In a letter signed by 19 of our colleagues, Council Member Felder and I sent a clear message to Mayor Bloomberg in April about the importance of preserving property tax relief for our middle class. Since that time, economic conditions for the average New Yorker have only worsened, and raising property taxes now will only exacerbate the pressures that homeowners and tenants already face with rising food, gas, and utility prices. We urge the Mayor once again to honor his pledge to preserve the 7% property tax cut and $400 rebate in this year’s budget.”