ALBANY – Mayor Bloomberg yesterday accused Gov. Spitzer of reneging on promised funding that could threaten school construction, and labeled as “chutzpah” one of the governor’s budget proposals that Hizzoner said would cost the city another $10 million.

Bloomberg said Spitzer’s proposed $124.3 billion budget plan for 2008-09 would short-change the Apple by about a half-billion dollars while unfairly shifting the costs of upstate and Long Island municipalities onto NYC taxpayers who already pay $11 billion more to Albany than they get back.

He said the effect of the governor’s proposal would be increased taxes for city residents “to the tune of tens of millions of dollars a year” while also possibly forcing further city cutbacks and the canceling of promised tax cuts.

“This year, as we do every year, we’ve made budget decisions in the city based on expectation – and even the expressed assurances – that Albany will honor its commitments to us,” Bloomberg said during 75 minutes of testimony before a joint legislative budget committee.

“There are instances where this executive budget does not fully uphold those commitments.”

Bloomberg was particularly irked at Spitzer’s proposed school-funding plan that he said could jeopardize a portion of the city’s five-year, $13 billion school capital plan, but which aides to the governor insist would eventually provide all required funding.

Spitzer is looking to free up $100 million for the city’s school operating costs by delaying reimbursements for new construction projects by 18 months.

“It simply means we’re going to build and renovate half the number of schools,” Bloomberg said. “We just can’t create money out of thin air.”

Bloomberg was equally emphatic that the city deserves its full share of revenue-sharing aid instead of the half that Spitzer has proposed.

During last year’s budget negotiations, the state eliminated all but $20 million of the nearly $330 million in special aid to the city with a promise that the entire amount would be restored in the coming fiscal year.

But Spitzer proposed just $164 million in 2008-09 with a vow that the rest would be restored in 2009-10.

“It seems like a recurring theme,” Bloomberg said of the promise of more aid for the city in future years.

Bloomberg also opposes Spitzer’s plans to cap special-education costs in counties outside the city but not in the Big Apple, pass more of the state’s welfare costs on to the city, and eliminate the entire 50 percent state share for operating juvenile-detention facilities.

The mayor was also upset over Spitzer’s plan to increase by $10 million the state fee to administer the city’s personal income tax just a year after the fee was raised by 75 percent to $70 million.

“Talk about chutzpah,” he said.

kenneth.lovett@nypost.com