Showing 1 - 16 of 16
December 22, 2016Why do owners of the same type of property pay vastly different rates?
Report Pensions & Benefits
October 05, 2016A unique feature of a tax deferred compensation plan available to NYC teachers guarantees them a 7% investment return regardless of what happens to interest rates or in the stock market.
Report Economic Development
September 28, 2016How does the New York City metro area compare to other large cities in the competition for a talented workforce? Affordability and commute times remain challenges.
Blog City Budget
July 22, 2016A giant slice of the New York City budget pays for costs that are the legacy of commitments made in the past: debt service, pensions, and retiree health insurance. These legacy costs already exceed 20 percent of the budget and will expand by 20 percent to more than $20 billion in annual spending by fiscal year 2020.
July 18, 2016The New York City Department of Housing Preservation and Development is the nation's largest municipal housing agency, and is charged with implementing the largest housing plan in the city's history. How's it doing?
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.
Blog Pensions & Benefits
May 18, 2016The State Legislature has introduced 8 new bills to enhance the benefits of State and local public employees and retirees in the 2016 session.
Blog Pensions & Benefits
May 02, 2016The Citizens Budget Commission’s 2016 Benefit Sweetener Scorecard identifies more than 60 such bills active this session. These bills could cost the State and local governments hundreds of millions of dollars per year, and since about half the bills do not specify a fiscal impact, the potential costs could be significantly greater.
Blog State Budget
March 13, 2016State of New York retirees with more than 10 years of service receive health insurance benefits substantially more generous than those offered by private sector and most public sector employers. Governor Andrew Cuomo’s Executive Budget for FY2017 includes a fair proposal to reduce these growing costs, and the Legislature should adopt it.
Testimony Pensions & Benefits
February 26, 2016CBC has been monitoring New York City's efforts to find health savings. CBC has long advocated negotiating changes to health insurance as part of collective bargaining and applauded the labor-management agreement that committed to meet annual savings targets.
Letter State Budget
February 25, 2016CBC offers recommendations for legislative action on the Governor’s Executive Budget for fiscal year 2017. The recommendations cover four proposals that deserve support, five proposals that should be modified, and four proposals that should be rejected.
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.
December 06, 2007A background paper for the third session of a 2007 stakeholder conference to “fix Albany.” The process by which the next budget is prepared and debated, as well as the substantive decisions it embodies, are critical to the movement for political and fiscal reform in New York State. This paper focuses on a more equitable and affordable local tax burden.
Presentation State Budget
December 06, 2007Presentation from a stakeholder conference on setting budget reform priorities in 2007.
June 02, 2007This report focuses on state and local business taxes in New York City, showing that those taxes are dramatically higher than comparable taxes for key competitors. Combined federal, state, and local taxes reduce the rate of return on new business investment in New York City significantly – about 36-50 percent, depending on location and industry. Most of this is due to federal tax – typically 34-36 percentage points. Taxes in New York City were the highest in all industries in 2006, and were highest or second-highest under virtually all scenarios examined. By contrast, taxes in other New York locations often were lowest or nearly lowest among the locations compared.