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Report City Budget
November 25, 2018The City of New York spends more than $1.1 billion annually in an effort to provide its residents and visitors this vital service, but the money is not used wisely.
Video City Budget
November 25, 2018Citizens Budget Commission releases recommendations on how #FDNY should allocate its resources.
Podcast episode City Budget
November 16, 2018The 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
Video State Budget
November 13, 2018A push to bring up to 25,000 Amazon jobs to Queens could be a costly one to taxpayers in New York.
October 22, 2018Progressive, first, best are all terms have been used to describe New York’s economy. One non-partisan watchdog group took a look at how responsible the state has been with its money since Andrew Cuomo took office eight years ago.
October 19, 2018As Governor Cuomo's second term comes to a close, and voters decide whether to give him a third term, the Citizens Budget Commission is looking at how the state has fared over the past eight years.
Report State Budget
October 18, 2018This report is a comprehensive analysis of NYS since Governor Cuomo assumed office. CBC examined seven key areas, such as demographic and economic trends, fiscal trends, health, and education.
October 11, 2018Housing affordability is a perennial concern of New Yorkers and their elected officials, and the production and preservation of affordable housing is a key priority of the de Blasio Administration.
October 10, 2018Mr. 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.
Report Health Care
October 01, 2018For more than 50 years New York State has financed its Medicaid program in a unique way: the State requires New York City and the 57 other counties to pay more for Medicaid than all other local governments in the nation combined.
Report City Budget
September 18, 2018Paying down the City's debts should be a greater priority.
September 13, 2018NYC 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.
Video Economic Development
September 04, 2018There's an ongoing debate over the state's use of taxpayer money for economic development efforts, but a lot of investment happens at the local level, through Industrial Development Agencies.
July 18, 2018Decisions to redirect capital dollars to other priorities and stretch inspection and maintenance cycles contributed to the decline in subway reliability, and challenges lay ahead for plans to purchase 3,600 new subway cars and retrofit 1,200 existing cars.
Video Economic Development
July 12, 2018Ten economic development bills passed the state legislature, but CBC says the current programs need to be reformed before anything new is added.
July 03, 2018Rather than continue as the nation’s largest landlord, NYCHA should transition to an affordable housing steward employing a full range of strategies to preserve the affordability of its units.
Report Economic Development
June 22, 201891 bills active in this session would create and expand economic development programs. Until reform is enacted, these bills should be halted.
June 19, 2018Marisa Lago, Director of the Department of City Planning and Chair of the City Planning Comission, joined the CBC to discuss the U.S. Census, neighborhood revitalization, housing afforability, and resiliency and sustainability.
Report Pensions & Benefits
May 18, 2018The balance of this year's legislative session will be devoted to moving bills through the legislative process, including proposals to enhance the benefits of State and local public employees and retirees.