He reached a deal with the Legislature to approve a property tax cap.
The longer we wait to approve a property tax cap, the more we will hamstring New York from reaching its full economic potential".
City officials have said that the Bloomberg administration would like the City Council to approve a property tax increase before the January tax bills are sent out.
Faced with a deficit of up to $1 billion this year and $5 billion to $6 billion next year, the administration would like the City Council to approve a property tax increase before the January tax bills are sent out, four city officials said.
Voters could have helped the city out several months back, by approving a property tax increase.
voters will choose whether to approve a property tax that would generate $280 million for parks, water quality, and farmland.
In May, the State Senate had approved a supplemental property tax increase of 13.8 percent, to be imposed on the residents of Woonsocket, a struggling city with a $10 million deficit.
The city's Landmarks Preservation Commission approved a 600-property extension to the Park Slope Historic District on Tuesday, creating an unbroken stretch of 2,575 buildings — more than the historic districts in Greenwich Village (2,315 buildings) and the Upper West Side (2,020 buildings).
But rents have increased drastically in Park Slope, and after the City Council approved an 18.5percentt property tax increase in November, Mr. Raiola began considering an unpleasant option: doubling the rent and seeking a tenant with deeper pockets.
In response to a state Supreme Court ruling, New Hampshire lawmakers approved a new statewide property tax last November, a decision that rekindled the state's historic antitax fervor and prompted vows of legal challenges.
