Mayor Will Not Add More Tax Cuts
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.
Mayor Bloomberg seemed to put the kibosh on adding more tax relief to the $1 billion tax cut package he is planning to pass in his city budget.
Asked yesterday about a new report showing that the combined state and city tax burden in the five boroughs is nearly 50% more than the 8 other biggest cities in the nation, Mr. Bloomberg said: “I would love to reduce taxes more, but unfortunately given the level of services the public wants we just have to have money to pay for those things.”
His $1 billion tax cut proposal will reduce property taxes by about 5% for one year, eliminate the city sales taxes clothing and shoes, and provide relief for small businesses. As for next year, he said: “We’ll have to see.”
