With property values—and thus the taxes on those selfsame values—on the rise, NYC's new budget is cutting property owners a break with the 7% across-the-board cut in the city's property tax rate. Your takeaway: status quo! Meantime, an innovative proposal to give renters a $300 tax credit just because they, uh, rent, didn't make the final budget. The humanity.
· Mayor and Council Agree on Budget, Providing Property Tax Break [NYTimes]