New Yorkers got an early Christmas present this week as Mayor Bloom berg and City Council Speaker Christine Quinn struck a deal to prevent the water-rate hike expected in January.

The Water Board had planned a bump-up of as much as 18 percent, sending property owners’ water bills to an average of $824 a year. Only six months ago, the board passed an 11.5 percent hike, the largest in 15 years.

Truth is, the board has had little choice. The law requires it to keep a balanced budget, yet customers are increasingly not paying their bills.

And the board was unequipped to enforce timely payments, inspiring upward of 15 percent of customers to default. It’s not a money issue: Of the 80,000 delinquent accounts, more than 75 percent are current on property-tax payments.

The Bloomberg-Quinn deal gives the board the authority to put liens on homes with sewer and/or water accounts at least a year overdue (with single-family homes, seniors and homeowners in economic distress exempted).

The right to sell liens have helped the city recover overdue property taxes – it’s collected $2 billion-plus in late payments since getting the authority in 1996.

Other US cities using liens report water-revenue collection rates of 95 percent to 99 percent. If New York does the same, billpayers can put on hold any fears of a double-digit rate hike.

In the face of loud protests from populist politicians, Bloomberg and Quinn deserve credit for seeing these negotiations through. Bravo.