Nov 18, 2008 11:53 am US/Eastern
Official: Bloomberg Can't Rescind Tax Rebate Alone
NEW YORK (CBS) ―
New York City homeowners may be getting this year's $400 property tax rebate check after all.
The city's top budget official said Mayor Michael Bloomberg would need to get City Council approval to cancel the popular rebate.
The mayor had proposed canceling the checks as a way of saving the city $256 million, and contended that he did not need the Council's approval. "This is just one of those out-of-touch-with-reality
moments that young guys have over there from time to time and I don't
think you realize how much people who are living hand to mouth are
expecting that check," Councilman Lewis Fidler said.
"That's an issue that we've looked at more carefully since the mayor's
statement," Budget Director Mark Page said at a Council Finance
Committee hearing. Page said that Council approval was required.
Bloomberg himself backed off from the idea
while speaking to reporters in Washington, where he was meeting with
members of President-elect Barack Obama's transition team.
"It's probably up in the air," said Bloomberg. "Look at it this way: If
we don't do that, we're going to have to cut another quarter of a
billion dollars out of our expenses."
The rebates -- which have widespread council support -- originally were scheduled to be mailed last month to more than 600,000 homeowners. The problem is the homeowners' rebate will cost the city $256 million. If the city hands out the checks it has to cut the money from someplace else.
In contrast, the mayor's plan to eliminate 1,000 new cops saves $80 million.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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