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Bloomberg open to renter’s credit

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Although the city recently announced that it has a $4.4 billion surplus, Mayor Bloomberg says he does not want to squander money for next year’s budget on “wine, women and song.” As part of the budget, Bloomberg has proposed a 5 percent cut to the property tax rate and a $400 rebate to small-home owners, and he now says he will consider Council Speaker Christine Quinn’s proposed annual tax credit for renters. more [Post]

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