New York City homeowners will be getting their $400 property tax rebate checks that had been threatened under city budget cuts.
The city council left the rebate program alone while voting for other budget sacrifices on Thursday.
Council members considered a set of changes to the budget as Mayor Michael Bloomberg tries to guard against the effects of an economic slowdown.
The spending cuts and tax hikes include a property tax increase of 7 percent and a new hotel tax increase of 0.875 percent. The city faces deficits of more than $1 billion next fiscal year and multiple billions in future years.
Meanwhile, Police Commissioner Raymond Kelly happily announced that the new recruiting class will still go on with recruits entering the academy in January.
Mayor Bloomberg had the following to say:
“In November, when I initially proposed a financial plan modification, the City’s financial outlook had taken a serious hit from the collapse of Wall Street and the national economic downturn. Unfortunately, the outlook has continued to deteriorate – making today’s action even more necessary. It’s never popular to phase out a tax cut or reduce agency spending, but they are the right choices to avoid far greater and longer lasting pain. We will not repeat the mistakes of the 1970s, which crippled City’s finances and nearly destroyed our quality of life. We are taking steps to weather this storm so we can continue to keep our streets safe and clean, continue improving our schools and continue protecting seniors and the most vulnerable New Yorkers.
“The $400 Property Tax Rebate, originally conceived by my administration in 2004, will provide needed relief to homeowners who are experiencing tough times, and hopefully will inject more than $250 million into the City’s economy. This agreement is the product of negotiations and compromise between both sides of City Hall and I want to thank Speaker Quinn and the majority of the City Council for recognizing the severity of the situation and taking action.”
(Moshe Altusky – YWN / 1010WINS)
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2 Responses
Great reporting. Just overlooked a little problem. The 7% increase in property tax that is part of this package means that the taxpayers will be paying back the $400 FOUR TIMES in the first year alone. Not to mention that, once they increased it 7%, it ain’t going down anytime soon. So enjoy your $400 check. It’s the most expensive $400 you’ll ever see, courtesy of the lying weasels who run our government and the pathetic media that doesn’t know how to report this geneiva for what it is. Thank you Saint Mike.
Oy we’re such a bunch of losers. If our politicians are not willing to vote for our needs why oh why do we vote them back in?
Democracy doesn’t work if politicians just do as they please and then we vote for them again.
Us stupid New Yorkers will all be so excited that we got $400.00 as we vote Bloomberg (the billionaire who is clueless about the needs of the middle class) right back into office.
Lets all go buy bicycles with our $400.00 checks so we can be good little Bloomies as we ride them throughout the city trying to follow the funny lines and arrows while watching out for pedestrians and motor vehicles.
For those who still prefer a car, don’t dare block the bicycle lane even while waiting for a parking spot unless you wsnna forfeit your $400.00 rebate back to the city in the form of a ticket.