2008_12_piggyb.jpgThe City Council approved Mayor Bloomberg's plan to increase homeowners' property taxes by 7%, in a 33-to-18 vote, which the NY Times calls "a close one by City Hall standards." Clearly, many Council members, like Bill de Blasio who said, "I honestly believe we have no other choice. I salute the courage of my colleagues today," supported the measure, a few were critical. Councilman Simcha Felder said, "Today, the Council votes to take the bucket to the same old well and ask homeowners to bear the brunt of a swelling budget among dwindling revenues...I believe that is unacceptable and that will hurt all New Yorkers in this difficult time.” City Council Speaker Christine Quinn pointed out that the $400 property tax rebates, which the Mayor agreed to send out, could be used to pay for the increase in property taxes. Um, great.