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Video
Taxes
The New York City Property Tax
Problems, Inequities, and Potential Reforms
September 13, 2018
NYC Advisory Commission on Property Tax Reform is charged with recommending reforms to make the NYC property tax fairer, simpler, and more transparent. CBC, the Regional Plan Association, and NYU Wagner convened a panel to discuss the current property tax system and the reforms that should be pursued.
Blog
City Budget
City's Fourth Extension of the School Bus Grant Program Should Be Rejected
March 08, 2018
The City Council should reject this program, and all new school bus contracts should be awarded with an eye toward realizing savings in the costs of pupil transportation, now more than $1.2 billion.
Press Release
State Budget
CBC Releases Comprehensive Analysis of Governor Cuomo's Two Terms in Office
October 18, 2018
The CBC released a comprehensive analysis of the major demographic, economic, and fiscal trends in New York State since Governor Andrew Cuomo assumed office on January 1, 2011.
Report
Energy & Environment
Keys to a Cap-and-Invest Design That’s Earth- and Economy-Focused
Recommendations for a Cost-Effective Program to Meet New York's Ambitious Climate Goals
November 28, 2023
While NYCI provides a great opportunity to reduce emissions in a cost-effective manner and fund critical investments strategically, its success depends on it being well designed and implemented.
Video
Transportation
Conversation with the MTA's Janno Lieber and Jamie Torres-Springer
A CBC Event
December 13, 2023
MTA Chair and CEO Janno Lieber and MTA Construction & Development President Jamie Torres-Springer to discuss a wide range of issues facing the MTA.
Podcast episode
City Budget
$4.3 billion, with NYC Budget Director Jacques Jiha
June 09, 2023
$4.3 billion is the Adams' Administration's estimate of the cost to house and provide services to asylum seekers this and next year. But that is only a small portion of the City's fiscal challenges. NYC Budget Director Jacques Jiha joined the CBC to discuss the fiscal year 2024 Executive Budget, negotiations with the City Council, future budget gaps, efforts to improve the City's management and more.
Press Release
CBC Releases "7 Facts About the NYC Department of Buildings"
April 25, 2023
The NYC Department of Buildings (DOB) is critical to ensuring the safety of the city’s buildings and construction, supporting development through efficient permitting and plan review, and enforcing compliance with building and zoning codes.
Video
Housing
Stanley Brezenoff, Interim Chair & CEO, NYC Housing Authority
CBC Breakfast Series
October 10, 2018
Mr. Stanley Brezenoff oversees 326 public housing developments that are home to more than 400,000 New Yorkers. Mr. Brezenoff's shares his reaction to recent CBC research and gives an update on NYCHA's activities and planning.
Presentation
New York State Rainy Day Reserves: California Dreaming
Crain's New York Business
March 18, 2018
Despite worries about NY's economic future following federal tax legislation, the state has not prepared for a downturn by contributing to reserves.
Letter
State Budget
Recommendations for Legislative Action on the NYS Executive Budget for FY2019
March 05, 2018
CBC's take on proposals that should be supported, modified, or rejected.
Blog
State Budget
CBC’s New York State Budget Priorities
Fiscal Year 2024
January 30, 2023
Resources available in the near term should not cloud the State’s significant fiscal and economic risks, and the need to stay competitive for residents and businesses.
Podcast episode
City Budget
$307.45 with Anita Laremont
April 18, 2018
$307.45 - the minimum per square foot price for selling air rights in East Midtown. NYC Department of City Planning General Counsel and Chief Data Officer Anita Laremont discusses the de Blasio's administration's approach to commercial and neighborhood development, including the East Midtown rezoning, Mandatory Inclusionary Housing, and more.
Op Ed
City Budget
New York Is Teetering on a Fiscal Cliff
Crain’s New York Business
November 07, 2023
Fiscal stability underpins the city’s ability to provide core services to New Yorkers and is fundamental for economic growth.
Podcast episode
Economic Development
4.67 million, with Andrew Kimball
October 05, 2023
4.67 million is the total number of jobs in New York City, just shy of employment pre-pandemic. Though the economy is stable and employment generally strong, challenges remain. The economy is undergoing longer term transformation including remote work, which will affect our labor market and commercial real estate, and the City faces proximate challenges with the influx of new migrants and asylum seekers. NYC EDC's President and Executive Director joined CBC to discuss the Administration’s economic growth strategy, projects ranging from Willets Point to SPARC Kips Bay, the green economy and offshore wind, soccer, ferries, and more.
Blog
State Budget
Reallocate Settlement Payments to Boost Rainy Day Funds
July 09, 2018
NYS has wom more than $11 billion in litigation settlements since FY 2014-2015. The spending of some of the settlement funds have more merit than others, but one major shortcoming is that none of the funds were allocated to boosting reserves.
Podcast episode
Transportation
$1.5 trillion, with the MTA's Janno Lieber and Jamie Torres-Springer
December 19, 2023
$1.5 trillion is the MTA’s total asset value—the trains, buses, yards, and stations...all the infrastructure moving New Yorkers round the clock. At a recent CBC event, MTA Chair and CEO Janno Lieber and President of Construction and Development Jamie Torres-Springer discussed congestion pricing, fare evasion, congestion pricing, state of good repair, the future of Penn Station, and more.
Podcast episode
City Budget
Episode 59: 1981
November 16, 2018
The data point for today is 1981, the year in which the State Legislature enacted S7000A, the landmark bill that formalized the current property tax system for New York City. A response to the Hellerstein case, which found the system was in violation of State law, S7000A essentially codified the status quo.In doing so, it established a system of property classification, fractional assessments, caps, phase-ins, and class shares that is still with us 37 years later. These structural features and statutory requirements are the root of the system’s inequities and complexities. A home worth $500,000 can face the same tax bill as a home worth $1.5 million, while the value of a condominium unit, according to the City, is a fraction of its sale price. In fact, some buildings have values that are below the sale price of individual units. And commercial and rental property faces a higher average property tax burden than 1-, 2- and 3-family homes.
These inequities and problems have led to repeated calls for reform, including pending litigation. This past May, Mayor de Blasio and Speaker Johnson formed the Advisory Commission on Property Tax Reform. In September, the Citizens Budget Commission, the Regional Plan Association, and NYU Robert Wagner School of Public Service held a panel to discuss the problem, inequities and potential reforms
Report
State Budget
The Mid-Year Check-in
Six Takeaways from the NYS Financial Plan Update and Quick Start Budget Report
November 20, 2023
The fiscal news of the last three weeks makes one thing clear: This year’s budget process will be unlike those of recent years.
Blog
Economic Development
End the Empire Zones Program and Adopt Excelsior
March 24, 2010
Explains why Empire Zones were ineffective and argues in favor of the improved features of Excelsior tax credits.
Statement
State Budget
Statement on NYS Executive Budget for FY2019
January 17, 2018
The overall approach is to use short-term fixes that do not address the long-term structural problem of spending outpacing revenues.