Cost of NYC Water to Rise 2.1 Percent in July
The New York City Water Board recently unanimously approved a 2.1 percent increase in the city’s water and sewer rates. The increase, the lowest in 16 years, is the third consecutive rate rise since Mayor de Blasio took office in 2014. The new rate takes effect July 1.
In April, Mayor de Blasio announced that the city would stop charging the water board, which leases the water and sewer system from city government, an annual rental payment. The elimination of the payment saves the water board $244 million in the coming fiscal year, officials said. Still, de Blasio recommended that the board move forward with his proposal to increase rates by 2.1 percent.
To offset the increase, the mayor proposed and the board approved a $183 credit to water customers who own one- to three-family homes. As a result the benefits of this credit exclude owners of large buildings and rent-stabilized buildings.