A Tax Cut, Finally
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
The city budget deal reached this week between Mayor Bloomberg and the City Council provides property tax rebates of about $400 to 640,000 New York homeowners. That’s good news.
Until this year, Mr. Bloomberg and the City Council led by Gifford Miller had been busily raising any tax they could get their hands on.
The rebate is a step in the right direction. It doesn’t go nearly far enough, however, in restoring the state and local tax burden in New York – the highest in the nation – to reasonable levels. That will be a task for the mayor and the council in the year ahead.
One goal would be for Messrs. Bloomberg and Miller to leave office with taxes no higher than they were when they took office. Something to hope for, at least, in the next budget.
