Property tax bills reflecting a whopping 18.5% increase will be mailed Thursday, after Mayor Bloomberg and City Council Speaker Gifford Miller officially signed the largest-ever hike into law early yesterday. But it may not stop there. With a $3 billion budget gap still looming over the next fiscal year, Bloomberg told the Daily News Editorial Board yesterday that additional taxes are all but unavoidable next year. "I think it is unrealistic for the city to close a $3 billion deficit ... by cutting back," the mayor said. "You have to raise revenues someplace or another." The mayor's plan next year calls for $1billion more in service cuts - and twice as much in new taxes. Besides help from the state, he is seeking help from the federal government, especially on Medicaid. Full story from Daily News Here Didn't we have a surplus for like the last 5 years? Something like 20 billion dollars? What the #$$#* happened to them and why the deficit so large?