Here are some quick numbers from Michael Bloomberg’s proposed budget, which he presented in City Hall just now:
$1.5 billion in agency savings
3.7% growth in budget overall from last year
50 cent proposed increase in cigarette tax
1 % growth in controllable spending
6.3% growth in non-controllable spending
$400 property tax rebate (continued from last year)
7% property tax rate (continued from last year)
$4.2 billion gap projected in FY2010
$5.6 billion gap projected in FY2011
$5.3 billion gap projected in FY2012
“This administration is trying to hold the line and not raise taxes,” Bloomberg said. The mayor also said, “While I’m not in favor of higher taxes,” he does want to keep them “at a level where people keep moving into the city and business haven’t moved out.”
Does anyone see anything in these figures that stands out?
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