Gov. Cuomo’s plan to use a portion of a new city property tax aimed at helping the cash-strapped MTA pay for mass transit improvements would cost city taxpayers a whopping $290.2 billion over 35 years, the de Blasio administration warned Sunday.
“This proposal is only good for Andrew Cuomo,” said Jaclyn Rothenberg, a spokesperson for Mayor de Blasio. “He continues to usurp his power and find ways to beg, borrow and steal from New York City residents and subway riders.”
Under Cuomo’s “value capture” plan, the MTA would declare a “transportation-improvement district” within a mile of large subway or rail-service improvement projects and collect up to three quarters of the area’s subsequent increase in property-tax payments — all without the City Council’s approval.
City officials say the plan under consideration as part of state budge discussions could harm the city’s ability to adequately fund public safety, education and…
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