Bloomberg's Budget: Less Capital Spending, Same Homeowner Rebates

Michael Bloomberg is presenting his $59.1 billion budget, which grows city spending by one tenth of one percent over last year, and, according to the mayor's chart here, cuts back on capital spending.

According to the graph, "city-funded capital commitments" will be cut back by 20 percent.

But the $400 property tax rebate, and 7 percent property tax rate reduction are still on the books.