NYC property tax rebates in the mail

December 23, 2008 3:44:36 AM PST
New York City home owners could start getting their $400 property tax rebate checks just in time for the new year. The checks will start going out Tuesday to about 640,000 owners.

Last week, the City Council managed to rescue the rebate program from the mayor's chopping block.

But homeowners might want to put that money away. In exchange for the rebate, the Council approved a 7 percent property tax hike.

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