(10/24/06) GLEN COVE - Glen Cove Mayor Ralph Suozzi announced plans to address the city's $10 million deficit Tuesday by raising taxes nearly 28 percent in 2007.

According to the state comptroller, Glen Cove's large budget deficit would triple by 2009 if no action were taken. He says overspending and an overstatement of revenues dug a hole for the city. Suozzi says his plan, which calls for a 27.81 percent tax hike, could have been much worse. If the budget passes, Suozzi, who took office in January, would raise Glen Cove's taxes for the first time since 2003.

For a home valued at $560,000, the new tax would amount to a $330 increased payment next year. Some residents say the percentage is too high. Others applauded the new mayor, saying Suozzi is doing exactly what he promised last year. During his campaign, Suozzi pledged to look in to and fix the budget deficits he would later inherit.