Water Board Proposes 3.35% Rate Increase; City Hall to return $36 million of Rental Payment
The New York City Water Board is issuing for public comment a 3.35% rate increase for water and sewer rates to take effect July 1, 2014; this represents the lowest increase in 9 years and is about half of what was projected this past January by DEP.
DEP Commissioner Emily Lloyd announced that Mayor DeBlasio was returning approximately $36 million of the Water Board’s rental payment to the City of New York; that rebate combined with lower than anticipated debt service expenses and higher than expected revenues result in the lower proposed increase.
Other billing changes are also proposed; most notable is the proposal to create a Home Water Assistance Program to assist low income homeowners.
Public hearings will start in 3 weeks and we will update our blog with the schedule and links to the the full menu of billing and policy changes being considered separately.