Availing a ‘broken’ system: Property tax rebate included in city budget

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Brooklyn homeowners will get to keep a cool $150 in their pocket under the terms of a property tax rebate included in the new city budget for the upcoming fiscal year.

The $101 billion municipal budget deal — which Mayor Eric Adams and City Council lawmakers announced at a press conference on Friday, and which the Council is expected to approve Monday evening — sets aside $90 million to provide a property tax rebate for about 600,000 eligible New Yorkers, according to the mayor’s office.

The rebate’s primary sponsor, southern Brooklyn Councilmember and Finance Chair Justin Brannan, says that it’s the first such rebate in 14 years, and that when combined with another rebate included in the state budget, some beneficiaries could end up seeing over $800 in relief this year.

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