NEW YORK, NY January 17, 2007 —Mayor Bloomberg is expected to call for a major tax cut and an increase of affordable housing in his annual State of the City address later today. WNYC's Bob Hennelly has more.

Mayor Bloomberg will call for a 1 year 5% roll back on property taxes at a cost of $750 million. He will also seek to eliminate the city's sales tax on shoes and clothing and lessen the tax bite on small businesses. All totaled Bloomberg's proposal amounts to a billion dollar municipal tax roll back.

The Mayor will also layout his vision or combating the scarcity of housing by rezoning the city to allow taller residential buildings to be built in prime locations close to mass transit while pledging to respect the character of existing neighborhoods. Other themes will include advancing his push to reduce poverty and increase accountability throughout the city's public school system.

For WNYC, I’m Bob Hennelly.