Giving Back To New York City’s Homeowners
From The Mayor’s Desk ...
This week, more than a half-million New York City homeowners should be on the lookout for some welcome mail from the City - in the form of $400 rebate checks. Last Friday, our Admin-istration began sending out tax rebate checks to 625,000 property owners all across the city.
This is the second of three rounds of property tax rebates that are our way of saying thank you to homeowners for helping the city through its toughest fiscal crisis in decades.
These rebates are going to New York-ers who made the biggest sacrifices to protect essential City services when times were tough. But because they did, today New York City is stronger than we were before 9/11. Our quality of life is better than it was four years ago.
We’ve driven crime down to record lows, and the safest big city in the nation is getting even safer. Our streets are the cleanest they’ve been since 1975.
We’re ahead of schedule to finance construction of $3 billion of affordable housing for 200,000 New Yorkers by the end of 2008 - the big-gest housing initiative in the city in 20 years.
Our economy is growing again. Un-employment is down to 5.1%, the lowest it has been since 1988, and 50,000 more New Yorkers have jobs now than a year ago. Most homeowners will spend the rebates at neighborhood bu-sinesses.
That will help keep our economy growing and create jobs in all five bo-roughs. The rebates mailed out last week went to the owners of houses, cooperatives and condominiums.
As it did last year, the Finance De-partment is mailing checks directly to eligible owners, including individual owners of cooperative apartments. The vast majority of homeowners will re-ceive $400 checks, unless their annual tax liability is less than $400. In that case, they will receive a refund equal to the amount of their tax liability.
The Department of Finance will mail additional checks in the coming weeks as it continues to process property tax payments. Homeowners who owe more than $25 in property taxes for periods before July 1, 2005, are not eligible until they pay the Department of Finance. In order to receive a re-bate, homeowners with outstanding taxes must pay by October 15.
You can check the Finance Depart-ment’s web site at www-.nyc.gov/ finance or call 311 to see if you are eligible. Homeowners helped us all get through the fiscal crisis, and now that New York City’s economic outlook is brighter, they deserve to get money back. It’s just the right thing to do.