NEW YORK (CBSNewYork) — Two New York City councilmen are seeking tax rebates for the owners of small properties.

Councilmen Mark Treyger, D-Brooklyn, and James Vacca, D-Bronx, are proposing $500 rebates this year after the city raised the assessed values on properties, WCBS 880’s Rich Lamb reported.

The average tax bill in the city is set to increase by $400 to $800, Vacca said.

“When people see their assessment bills, whether you own a house, a co-op or a condo, it’s going to be going up,” Vacca said. “It’s going to be going up 10 to 12 percent. I want that money returned to the people of the city of New York.”

“That is a major squeeze on our teachers, our nurses, our transit workers — again, the heart and soul of this city,” Treyger said.

Vacca said the city is in good fiscal condition and the taxes should not be hiked.

He predicted there will be a lot of council support for a tax break.

“We’re hitting the same people over and over again,” Vacca said. “The difference is this year there’s no need to do so.”

Added Treyger: “We need a middle-class agenda in New York City, and this should be a part of it.”

Watch & Listen LIVE