Council Members Urge Increase of Tax Rebates
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Property tax rebates could be increased if Mayor Bloomberg heeds a call from Republican members of the City Council.
Half of any additional dollars to the city’s record $4.4 billion surplus should be added to the rebates, the three council members said yesterday in a letter to Mr. Bloomberg. Seniors and residents on fixed incomes are being taxed out of their homes, they said.
Mr. Bloomberg’s budget proposes a $400 property tax rebate, part of $1 billion in tax cuts.
Several council members say the budget underestimates the surplus, which they put as high as $7 billion. A spokesman for the mayor said it is misleading to say there is a surplus when the city is facing a $10 billion shortfall during the next few years.
The New York City Independent Budget Office yesterday issued its own analysis of the mayor’s budget for 2008, predicting a budget gap of $1.7 billion in 2009. The office called the gap “particularly manageable.”
