Showing 1 - 13 of 13
Podcast episode State Budget
December 11, 2019$28.8 billion is the cumulative four-year budget gap facing New York State between fiscal years 2020 and 2023. CBC President Andrew Rein joined the podcast to explain how the State should get its fiscal house in order. And for a special treat, CBC's Andrew Perry and Ana Champeny discuss regional economic development and NYC property taxes. Happy Holidays!
Letter State Budget
December 10, 2019The Citizens Budget Commission welcomes the recognition that the State must immediately address its serious fiscal imbalance.
December 04, 2019The 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.
Podcast episode Taxes
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.
August 13, 2019PIT revenues are a significant - and volatile - part of State and City budgets.
Special Feature City Budget
May 13, 2019A snapshot of NYC's budget, including projections for spending, headcount, savings, liabilities, and revenue shortfalls in case of a recession.
April 05, 2019The 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.
March 13, 2019The 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 City Budget
February 26, 2019The 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.
December 22, 2016Why do owners of the same type of property pay vastly different rates?
Report State Budget
June 20, 2016The impact of a possible recession could be as high as $59 billion, or 18.2 percent of tax revenues over four years.
January 22, 2016The two most significant issues are: 1) among residential properties, rental buildings are taxed more heavily than single family homes, and 2) within the two subgroups of residential properties—small homes and large rental buildings—property tax rates vary widely.
February 04, 2008CBC recently looked at the option of expanding New York’s existing circuit breaker program to provide targeted relief to the neediest taxpayers as background for a forum on local tax relief convened on December 6, 2007. Based on that review of options the following points, outlined in this report, can be highlighted: 1) Circuit breakers are common; 2) New York’s circuit breaker needs reform; and 3) The poorly crafted School Tax Relief Program (STAR) would work better as a circuit breaker.