SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: James F. Hopkins who wrote (199404)10/23/2002 4:07:07 PM
From: stan_hughes  Read Replies (1) of 436258
 
NYC's turn on the tax rate hike front -

Biz tax opposition

by Philip Lentz

Business leaders are beginning to talk about trying to block or minimize any major tax increases proposed to balance the city budget.

Mayor Bloomberg isn’t expected to announce a plan until next month, putting executives in a nervous holding pattern. But they say cutting spending--which would inevitably involve city worker layoffs--and increased federal aid are better options than huge tax increases.

"If there isn’t a realistic, rational proposal for the $5 billion deficit, then I believe the business community would have no choice but to raise objections if too much of that solution is tied to increasing taxes," says Steven Spinola, president of the Real Estate Board of New York. He says just talk of a large property tax increase could scare away tenants ready to sign city leases. "We’re prepared to act responsibly, including the possibility of paying some additional fees, which we don’t complain about, and some additional taxes," he says. "But don’t increase real estate taxes 10% and think it won’t have a tremendous impact on the economy."

Copyright 2002, Crain Communications, Inc

crainsny.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News