New York - Mayor Bloomberg's Tax Bill: $500,000

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New York City Mayor Michael Bloomberg paid more than $500,000 in personal income tax last year, reporting to the Internal Revenue Service that his investments did well but not enough to compensate for losses the previous year, according to returns made public Friday.

An early look at the returns revealed that the mayor paid more tax on household employees, earned between $60,000 and $90,000 from leasing a horse and stable, and put $500,000 or more into a trust for his ex-wife, Susan Bloomberg.

Since 2001, Mr. Bloomberg has annually released highly redacted returns. In the spaces where his income and other financial data would be included on the tax forms and schedules, for example, Mr. Bloomberg's accountants substitute a code letter representing ranges of dollar amounts. For example, Mr. Bloomberg listed his adjusted gross income as "G," the highest category, which stands for $500,000 or over.

Still, tax-related documents reveal details about Mr. Bloomberg's life and finances. They showed, for example, that he made money from his appearances in two earlier episodes of "Law and Order" and a Muppets Christmas special he made last year.

A conflict of interest statement the mayor details of income earned from various positions and investments he holds.

Since become the city's chief executive in January 2002, Mr. Bloomberg has foregone a city salary, accepting $1 a year to be the mayor of the nation's largest city.

WSJ

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