De Blasio: No property tax increase

But tax assessments set to jump 8% in July

Feb.February 05, 2014 12:10 PM

Mayor Bill de Blasio will not recommend an increase to New York City’s property tax rate in next week’s 2015 fiscal budget proposal, making good on a campaign promise he made last year.

“We have no plans for a property tax increase,” de Blasio told reporters outside City Hall yesterday. Preliminary Department of Finance figures released last month, however, indicate that tax assessments are slated to rise by 8 percent in July, exceeding the city’s projections and representing the largest jump in tax assessments since June 2008.

During his remarks Tuesday, de Blasio also highlighted the fiscal challenges facing the new administration, most notably the renegotiation of contracts for all city employees, the Wall Street Journal reported.

The open labor contracts create “tremendous fiscal uncertainty, and we don’t know even the timeline on which they will be settled,” he said, according to the newspaper. [WSJ]Hiten Samtani

Related Articles

A photo illustration of Michael Gianaris and Jeff Bezos (Credit: Getty Images, Wikipedia, iStock)

Gianaris wants to reform NYC tax credit programs that drew Amazon

Mayor Bill de Blasio and City Council Speaker Corey Johnson with an aerial of 320 Concord Avenue, the site of the jail project (Credit: Getty Images, Google Maps)

Housing complex takes South Bronx jail project to court

From left: Obligo COO Omri Dor, Jetty CEO Michael Rudoy, Rhino CEO Paraag Sarva and The Guarantor CEO Julien Bonneville (Credit: The French Studio via YouTube, Twitter, LinkedIn)

Startups salivate as pols target security deposits

Mayor Bill de Blasio (Credit: Getty Images)

Four more lead-paint laws hit landlords

Mayor Bill de Blasio (Credit: Getty Images)

“Good cause” by any other name: De Blasio calls for tenant protections

Mayor Bill de Blasio (Credit: Getty Images)

De Blasio warns of ‘bad landlords,’ admits affordable housing plan ‘is not enough’

Mayor Bill de Blasio (Credit: Getty Images)

First broker fees, now security deposits? Mayor wants to free certain apartments from such payments

City Council Speaker Corey Johnson and Mayor Bill de Blasio (Credit: Getty Images, iStock)

NYC’s convoluted property tax system could get a big reboot