Bloomberg's proposed tax cut brings excitement, skepticism in BK

As news of a proposed property tax cut spreads, so does the skepticism and excitement among Brooklyn residents who say the relief is long overdue.

CANARSIE - As news of a proposed property tax cut spreads, so does the skepticism and excitement among Brooklyn residents who say the relief is long overdue. New Yorkers pay among the highest property taxes in the nation, although individual property owners pay less than landlords or commercial property owners. Now, Mayor Bloomberg?s (R-NYC) administration is proposing a 5-percent tax cut across the board and a $400 rebate for homeowners. City Council members discussed a possible plan Friday to effectively cut taxes while ensuring refunds. Many officials argue that as property values continue to rise, so will the need for higher property taxes. Councilman Lew Fidler (D-District 46) says the administration is determined not to let that happen. Residents are excited about the prospect of property tax relief, but they are also skeptical about the logistics. Some Canarsie residents say they won?t hold their breath for promises they?ve heard before.

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