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Budget or no budget, tax bills on the way.

Budget or no budget, tax bills on the way

While the Mayor and the City Council grappled over their budgetary boondoggle, a decision was made to bill the property owners for their July 1 tax bills no matter what the outcome, however, any difference would not be billed or credited until January.

If there is no final budget agreement or tax fixing resolution passed, the City Charter permits the city to bill taxpayers based on last year's tax rates.

A Department of Fiance spokesperson said they would be sending out bills based on whatever was available on Sunday night, June 30. A spokesperson from the Office of Management and the Budget indicated that if it seemed likely that a tax rate would be set in the "wee hours of the morning," the initial billing would be held up and a Finance Department representative confirmed that scenario.

According to Martha E. Stark, special assistant to the commissioner of Finance, the bills, if based on last year's rates, would included as a component, the portion of the "Safe Cities/Safe Streets" police tax which was already passed in tax fixing resolution. The city would not be collecting the total $130 million "Safe Streets" program set forth in both the mayor's and City Council's budget, but would be able only to collect the partial portion, which comes to $55 million.

Depending upon the scenario, property owners tax bills will reflect one or a compromise of the following rates per hundred dollars of billable assessed value:

If the City Council adopts everything in its budget, the Class III rate would go down to $13.70 while if the mayor's budget is adopted the Class II rate would be $12.92.

Stark said the extra payment made by the utilities would be taken off as a credit form their January bills. Other classes would have the difference in the final budget added to their January bills. "It is a benefit to everyone except Class III," Stark said, "because people have the use of their money."

Meanwhile, up in Albany, the Rent Stabilization Association's director of legislative affairs, Frank Ricci, said there is also a movement afoot by upstate Republicans to condition any passage of a city tax package on vacancy decontrol and high rent decontrol.
 No Budget Mayors Council
*Class 1 Homeowners $9.92 $11.40 $10.73
*Class II Residential $9.304 $10.39 $9.74
*Class III Utilities $15.200 $13.70 $12.92
*Class IV Commercial $10.00 $11.13 $10.48
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
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Author:Weiss, Lois
Publication:Real Estate Weekly
Date:Jul 3, 1991
Words:420
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