Well, New York Mayor [tag-tec]Bloomberg[/tag-tec] has finally done it. He’s decreasing property taxes. Hurrah.
Let’s jump up and down. Let’s get real happy about it. Perhaps he’ll take the torch and lead us all through the dark property tax tunnel and out into the sunshine of prosperity.
Are you watching Mayor Purcell? Nashville could use some decreases too.
Here’s what I think is happening.
Mayor Bloomberg is ambitious. He wants to run for some sort of national office and next year is an election year, as if we need reminding. He hasn’t been real popular with the constituency since increasing property taxes at 18.5 percent during his first term.
Not to mention the fact that he doesn’t have one of the most stellar personalities; often coming across as just a little smarty with an edge of kingly superiority.
So he needs to get real popular real fast. What’s the quickest way? I think we all know the answer to that.
Now he’s giving the “little people” a break. Small businesses are finally getting the attention they deserve too. He plans for more deductions, credits and easier filing requirements for non incorporated businesses.
And it seems he can because they took in more than enough to cover the $750 million property tax cut.
Here’s the thing. Politicians have been playing with our properties for far too long. They go up on the price (property taxes) then they come down and call it a sale. It’s an old retailing trick that has worked since the beginning of time.
Are you tired of it too?
But something else is happening under the surface. Did you catch on to it? Politicians are using property taxes as an re-election tool more and more. Why is that? Could it be because property taxes is becoming a hot issue all across the country?
Here’s a campaign I’d be interested in. “I’ll decrease all property taxes and I’ll keep them down. I want that money to flow back into the economy.”
Do ya suppose a politician could get elected with that?
There’s one more thing- Mayor Bloomberg has only promised the tax cuts for the next year. He can’t make any guarantees afterwards. So New Yorkers, it may be business as usual after he moves on.