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<a href="http://www.accessmylibrary.com/coms2/summary_0286-22415562_ITM" title="Facts and information about New York City raises property taxes 18 percent. (News Briefs).(Brief Article)">New York City raises property taxes 18 percent. (News Briefs).(Brief Article)</a>
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New York City raises property taxes 18 percent. (News Briefs).(Brief Article)
Facing a $6.4 billion shortfall in the fiscal year that begins on July 1, the New York City Council voted 41-6 in November to raise the city's property tax rate by 18.5 percent and to cut spending by more than $840 million. The Council agreed to pass the tax increase in return for the restoration of $50.2 million in cuts to key services. The mayor had requested a 25 percent increase in the property tax rate and $844 million in spending cuts. The first property tax rate increase in more than a decade will raise the tax bill on the average single-family home to $2,024 from $1,853. ...
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