After announcing the possibility of a 7 percent property tax hike as early as January 2009, Bloomberg has added that he would like to continue a $400-per-year tax rebate for small homeowners to soften the blow. The rebate, which costs the city $250 million per year in revenue and is scheduled to terminate with the tax hike, will require approval from Albany in order to be continued.
Small homeowner rebate could survive
September 23, 2008 08:23AM
