Bloomberg to raise prop tax by 7%

This is obviously not going to be popular, but demonstrates one of the things I really like about Bloomberg. He's going to take the political hit for raising taxes to fix a problem that (likely) faces his successor rather than himself. So much better than the pandering that we usually get from politicians.

NYC has very low property taxes for the metro area. So 7% *is* pandering.

I bet water rates will take a series of boosts in the next few years, too.

"NYC has very low property taxes"

But very high income taxes.

And the property taxes are only low for single-family homes. Not for condominiums.

either way, it + the maintenance going up because of fuel and insurance and such (per the Times several months bach) means that the "buying keeps a cap on costs" argument sorta goes out the window.