According to today’s Daily News: The city’s $400.00 property tax rebate checks — which have been stuck in budgetary limbo as the Mayor tries to plug a 1.3billion dollar budget shortfall — cannot be rescinded without city council approval, according to city budget director, Mark Page.

Earlier this month, Councilman Gentile made several inquires to the Department of Finance as to the whereabouts of the rebate checks — which total $256million and affect 600,000 homeowners — after residents throughout his Bay Ridge/Dyker Heights district complained they have not seen the rebate check, which typically has arrived no later than the first week of October.

Page acknowleded the Council approval is needed for rescinding the rebate under questioning from Council Finance Chairman, Davin Weprin, but is limited to only this budget year – reports the News.

So, don’t spend it all in one place, Bay Ridge.

Unless you’re fortunate enough to be a developer with a 25yr tax abatement – they’re raising your property taxes by 7% next year, anyway, folks.

(photos courtesy: flickr, and ryryan.com)