Here Come the Tax Hikes

Yesterday Mayor Bloomberg announced the immediate cancellation of the city’s annual $400 property tax rebate checks. I always thought the rebate checks were a sham — they should have simply reduced property tax rate — but the canceling the program amounts to a de facto property tax hike. Mike is also proposing a 15% increase in the city’s income tax and a 3% hike in the city’s portion of the sales tax. And he says he’ll likely be asking for more tax increases in January.

Wow, good thing the city extended term limits so we could benefit from this guy’s financial wizardry. I’m sure Weiner, Thompson or any of the other mayoral wannabes could never have thought of raising taxes themselves.

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