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FOR IMMEDIATE RELEASE
PR- 375-05
October 2, 2005

MAYOR BLOOMBERG AND FINANCE COMMISSIONER MARTHA STARK ANNOUNCE SECOND $400 PROPERTY TAX REBATE

Mayor Michael R. Bloomberg and Finance Commissioner Martha E. Stark today announced that 625,000 owners of homes, cooperatives and condominiums will receive their $400 property tax rebate in the next few days. The Department of Finance began mailing the rebate checks on Friday, and will mail additional checks in the coming weeks as it continues to process payments that allow additional homeowners to become eligible.

“New York’s homeowners helped the City recover from the fiscal crisis, and I am pleased that we are able to give them a second property tax rebate,” said Mayor Bloomberg. “Another $400 rebate puts money back in the pockets of hard-working New Yorkers and says thank you for their sacrifice in the City’s time of need.”

"I’m pleased to implement the second of three annual $400 rebates,” said Finance Commissioner Martha E. Stark. “I want to thank Mayor Bloomberg and the City Council for letting us reward homeowners, and thank my staff for all the great work they’ve done to make this happen.”

Homeowners who received a rebate check last year and have not moved, and owners who certified that their home is their primary residence, will receive a 2005 rebate, provided they do not owe more than $25 in property taxes for periods before July 1, 2005. Owners should wait a few days for delivery, or check the Finance Department’s website at www.nyc.gov/finance to see if they are eligible. The Department of Finance will regularly update eligibility and mail date information. Rebate information is also available by calling 311.

As was done last year, the Finance Department is mailing checks directly to eligible owners, including individual owners of cooperative apartments. The vast majority of homeowners will receive $400 checks, unless their annual tax liability is less than $400.







MEDIA CONTACT:


Edward Skyler/Jonathan Werbell   (212) 788-2958

Sam Miller   (Department of Finance)
(212) 504-4271




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