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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
Video
Transportation
Port Authority Panel on Reform and Oversight
A Panel Discussion
April 22, 2014
Experts discuss how to reform the Port Authority.
Blog
State Budget
When 2 Percent Isn't 2 Percent
May 30, 2017
Adjustments to consistently track year-to-year reveal a 3.7% growth rate in fiscal year 2018.
Blog
Transportation
At PATH a Higher Fare is a Fairer Fare
September 29, 2014
On October 1, 2014, the single-ride fare for the Port Authority Trans-Hudson (PATH)—the rail system connecting Newark, Harrison, Jersey City, and Hoboken to Midtown and Lower Manhattan—will increase by 25 cents. Many riders will complain, but the simple truth is that the higher fare is a fairer fare.
Blog
State Budget
Guidelines for Wisely Using the $5 Billion Windfall
December 15, 2014
Three questions for determining good uses of one-time revenues.
Blog
State Budget
The Ongoing Challenge of Producing a $2 Billion Surplus: An Update
January 22, 2014
On January 21 Governor Andrew Cuomo presented a $142.1 billion fiscal year 2015 Executive Budget with a projected $2 billion annual surplus beginning in fiscal year 2016-17. How can it be achieved?
Statement
Housing
Statement on NYCHA's Expansion of PACT
November 16, 2018
Expanding public-private partnerships is a big step in the right direction, and more needs to be done to put NYCHA on sounder footing.
Blog
State Budget
The Challenge of Staying Under the 2 Percent State Spending Cap
May 19, 2014
The discipline of a 2 percent spending cap has markedly improved the State’s fiscal condition and spurred key reforms in Medicaid and State operations.
Report
Pensions & Benefits
Union-Administered Benefit Funds
Getting More Out Of A Billion Dollar Taxpayer Contribution
February 08, 2018
NYC taxpayers are projected to contribute $1.1 billion to 108 union-administered benefit funds. Better management, oversight, and consolidation can create more than $160 million in savings for the City and improve benefits for members.
Blog
Health Care
Three Strikes Against the Governor’s Proposed Conversion Revenue
March 13, 2018
Counting on the revenue from health insurance company conversations is not prudent for three important reasons.
Testimony
Economic Development
On Economic Development Proposals in the NYS Executive Budget for FY2018
Submitted to the Joint Legislative Conference on Economic Development
January 31, 2017
The growth of economic development costs should be halted until the effectiveness is demonstrated through standardized performance measures and transparent reporting.
Blog
State Budget
A Rank of 39th for State Financial Health – Is New York Really That Bad?
August 09, 2017
A recent analysis ranks New York’s fiscal health 39th of the 50 states.
Press Release
Capital Spending
CBC Issues Report Estimating Mario M. Cuomo Bridge Toll Will Double
October 13, 2017
In order to fully fund the cost of construction, CBC estimates that the toll will need to increase to approximately $10.
Statement
State Budget
Statement on the NYS FY2018 Adopted Budget
April 10, 2017
Despite fears of substantial cuts in federal aid, the nine-day tardy adopted budget includes excessive spending without needed reforms.
Press Release
Capital Spending
CBC Issues Report Estimating Mario M. Cuomo Bridge Toll Will Double
October 13, 2017
In order to fully fund the cost of construction, CBC estimates that the toll will need to increase to approximately $10.
Op Ed
Transportation
Four years after 'Bridgegate,' Port's fiefdoms are coming back
Crain's New York Business
May 30, 2018
The Port Authority of New York and New Jersey is a crucial agency, but it is badly governed and in need of reform.
Letter
Housing
NYCHA's Project Labor Agreement Needs Evaluation
A Letter to the Mayor and NYCHA Chair
March 05, 2018
Has the PLA between NYCHA and the BCTC delivered on expected savings? An evaluation is needed before any decision to renew the PLA.
Blog
State Budget
First Take on the NYS FY2018 Executive Budget
January 19, 2017
How does the State budget look? Most proposals get mixed reviews.
Op Ed
Economic Development
The Smart Money on Amazon
Strengths and weaknesses in the Long Island City deal
November 23, 2018
As New Yorkers search for Black Friday deals, including on Amazon, we are also scrutinizing the deal offered to the retail giant to come to Long Island City.
Video
Capital Spending
PANYNJ Executive Director Rick Cotton
CBC Breakfast Series
March 06, 2018
Recently appointed the Executive Director of PANYNJ, Rick Cotton joins CBC to share the Port's priorities in the coming years.