From the Daily News:
New York's higher property taxes are going to take a bite out of your wallet - even if you don't own property.
State regulators recommended Tuesday that Con Edison be allowed to hike electric rates by roughly 7%, with more than half of the $785 million increase caused by higher property taxes and assessments.
New York raised property taxes 7.5% at the start of the year to help balance its budget.
At the same time, the city also raised the assessed value of property to take into account the real estate boom.
For Con Edison, which is New York's single biggest taxpayer, the annual property tax bill is now $1.1 billion a year - which state regulators are required to pass along to the utility's customers.
And in more great financial news:
Health Insurance Costlier Than Rent in NYC
RENT TAKES HALF OF INCOME
Unemployment Benefits Drying Up For Thousands Of City Residents
And this is only under 8 years of Bloomberg. Just imagine what he'll accomplish in 12!