**Update on 5/8/15: The NYC Water Board voted to raise the water rates for FY2016 (effective 7/1/15) by 2.97%.**
The New York City Water Board has recently received a formal recommendation from the Department of Environmental Protection that the water rates should be increased for 2016. The increase that has been noted is 3.24%, which would also mark the second annual increase under Mayor de Blasio (3.35% last year).
DEP will also be asking the NYC Water Board to freeze the minimum charge for homeowners who use approximately 100 gallons or less per day. The customers that fall into this category are charges $463.55 per year (or $1.27 per day) for water usage.
So, what does this mean for your multi-family dwelling within the confines of NYC? Budgets will need to be sharpened to bring the new water rates into line with the expectation. This increase translates to an estimate of $23 more per unit, annually. Boards and Managers should continue to keep their residents alert to water-saving features, investigate and hidden water leaks and take advantage of any and all equipment that can decrease the use of water.