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Letter
State Budget
New York State Should Responsibly Address Serious Fiscal Imbalance
A Letter to Governor Cuomo, Majority Leader Stewart-Cousins, and Speaker Heastie
December 10, 2019
The Citizens Budget Commission welcomes the recognition that the State must immediately address its serious fiscal imbalance.
Testimony
Taxes
Comments on New York City Property Tax Reform
December 04, 2019
The balancing act facing legislators as they consider proposals to reform the property tax is how to increase equity, fairness, and transparency, while maintaining fiscal stability and reliability.
Testimony
Housing
Testimony on State Policies and Housing Development in New York City
November 25, 2019
CBC has long seen housing affordability as a key factor affecting New York City’s long-term competitiveness.
Podcast episode
Taxes
Episode 83: $81.3 billion, with Commissioner Michael Schmidt
October 24, 2019
$81.3 billion the amount of tax revenue New York State will collect in fiscal year 2020—46 percent of all resources in the $176 billion New York State budget. Michael Schmidt, Commissioner of the New York State Department of Taxation and Finance, joined the podcast to parse the details on the State’s tax base and taxation policies.
Special Feature
Housing
Facts About Housing
October 10, 2019
This infographic presents a snapshot of Mayor's Housing Plan, Capital Commitments for Housing, NYCHA's Capital Needs, and NYC Tax Expenditures and Revenue.
Podcast episode
Housing
90%, with Sean Campion
September 20, 2019
90% is the share of NYCHA units that are at risk of no longer being cost effective to repair by 2027 at the current rate of deterioration. NYCHA released a plan to address this in December 2018. CBC Senior Research Associate Sean Campion joins the pod to discuss progress, the urgency of success, and the dismal impact of failure.
Blog
Taxes
Personal Income Tax Revenues in New York State and City
August 13, 2019
PIT revenues are a significant - and volatile - part of State and City budgets.
Podcast episode
Housing
6/15, the Rent Regulation Edition
June 07, 2019
6/15 is the date when NYS rent laws are set to expire. Strengthening rent regulation is a top priority for the Governor and state lawmakers in the closing days of the legislative session. Listen to REBNY President John Banks and Assemblymember Harvey Epstein share their perspectives.
Special Feature
City Budget
Facts About The NYC Budget
2019
May 13, 2019
A snapshot of NYC's budget, including projections for spending, headcount, savings, liabilities, and revenue shortfalls in case of a recession.
Testimony
Housing
Testimony on Rent Regulation Renewal
Submitted to the NYS Assembly’s Standing Committee on Housing
May 02, 2019
When considering reform, the Legislature should evaluate the potential to worsen rather than improve tenants’ living conditions.
Blog
Taxes
Follow the Money
The MTA’s New Revenues
April 05, 2019
The NYS Adopted FY 2020 Budget directs three revenue sources to support the MTA. This blog clarifies what the revenue streams are and how they will flow to the lockbox.
Blog
Taxes
Pied-à-Terre Tax
Appealing but Problematic
March 13, 2019
The pied-à-terre tax is appealing politically because it is levied on wealthy people with means to pay and nonresidents who do not vote. Nevertheless, it is problematic for several reasons.
Blog
Housing
Six Guidelines for NYCHA's New Federal Monitor
March 08, 2019
The federal monitor is tasked with ensuring that NYCHA will remediate its most pressing physical issues, including lead, mold, broken elevators, and other deficiencies.
Blog
City Budget
NYC Revenues in a Recession
Quantifying the Potential Shortfall
February 26, 2019
The potential shortfall from a recession comparable to the last two recessions could be substantial: between $15 billion and $20 billion below projections over three years.
Blog
State Budget
Don’t Get Too High on Potential Marijuana Revenues
December 13, 2018
There is significant revenue potential from the marijuana industry, but research suggests that many months or years of careful planning precede consistent revenues.
Testimony
Taxes
New York City Property Tax Reform
Testimony Submitted to the New York City Advisory Commission on Property Tax Reform
November 27, 2018
CBC makes recommendations for property tax reform to fix problems with transparency and equity of the system.
Testimony
Housing
Testimony on the NYCHA Physical Needs Assessment
Submitted to the New York City Council Committee on Public Housing
November 15, 2018
NYCHA has an astounding $32 billion in capital needs, a nearly fivefold increase over the last decade. Today nearly all its properties require substantial rehabilitation.
Blog
Housing
NYCHA's Untapped Assets
How NYCHA Can Maximize the Value of Infill Development
October 02, 2018
CBC illustrates how changes to an "infill" development project’s location or affordability mix can significantly affect revenue and units rehabilitated at NYCHA.
Blog
Taxes
New York City Homeowners
Who's Got the Unfairest Tax Burden of Them All?
September 12, 2018
One of the basic principles of good tax policy is equity: similarly situated taxpayers should have similarly sized tax bills. New York City’s property tax system does not comport with this principle.
Blog
Housing
NYCHA’s Physical Conditions Remain the Worst in the City
Insights from the 2017 Housing and Vacancy Survey
August 29, 2018
Every three years, the U.S. Census Bureau conducts a New York City Housing and Vacancy Survey (HVS), which provides the most comprehensive information available on the size, nature, and condition of New York City’s housing stock.