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Article: Council shows its muscle; RE taxes hiked, but Dinkins plan slashed. (New York City Council, real estate, Mayor David Dinkins)
- Article from:
- Real Estate Weekly
- Article date:
- July 10, 1991
- Author:
CopyrightCOPYRIGHT 1991 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Council shows its muscle
RE taxes hiked, but Dinkins plan slashed
There were sighs of relief, cheers of victory and some grumbling last week when Mayor Dinkins and the New York City Council reached a budget accord that included $400 million in property tax increases -- half of what the mayor had proposed.
There was overwhelming praise, however, for the City Council, which stayed close, at least, to its pledge of no more than $300 million in new taxes. Realtors said the Council showed it is a "major player" and is responsive to taxpayers. The council was also hailed for saving vital services and cutting middle-management excess.
Owners ...