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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
Taxes
Testimony on Flaws in New York City's Real Property Taxation System
Submitted to the NYS Assembly Committee on Real Property Taxation
January 22, 2016
The 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.
Testimony
City Budget
Testimony on Preliminary Report on New York City Property Tax Reform
Submitted to the New York City Advisory Commission on Property Tax Reform
June 16, 2021
CBC and many New Yorkers have called for reform of the City’s byzantine and unfair property tax system for decades.
Statement
Taxes
Statement on Property Tax Lawsuit
April 25, 2017
A judicial review based on objective evidence presented in a public forum can be a catalyst for constructive change of the seriously flawed NYC property tax.
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.
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
Transportation
Tsk-tsk on Governor’s TIF Proposal
February 02, 2018
The FY 2019 Executive Budget proposed to allow the MTA to create tax increment financing districts in NYC to raise revenue for capital improvements. Though TIFs can play a useful role, the proposal is flawed.
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
State Budget
An Expensive Deal in Albany
June 28, 2015
The legislative package passed in Albany last week rejected some misguided and expensive proposals, including a tax credit for benefactors of private schools. Unfortunately, other expensive proposals were included, adding to current and future state expenses without providing offsetting savings or revenues.
Blog
State Budget
New York’s $1 Billion Brownfield Cleanup Program
March 17, 2015
Overview of Brownfield Cleanup Program
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
Good Ideas in Tax Commission Report
November 14, 2013
The State Tax Reform and Fairness Commission contains many smart proposals, including reducing exemptions from the sales tax and reforming business tax incentives.
Blog
Taxes
How Much to Bank on? When it Comes to Revenue Forecasting, Better Safe Than Sorry
April 12, 2015
What kind of impact could a recession have on New York City's revenues?
Statement
State Budget
Statement on the NYS FY2019 Budget
March 31, 2018
The budget gap will be closed using short-term measures instead of restraint in and reform of spending commitments.
Statement
Taxes
CBC Convenes Special Committee to Focus on Federal Tax Cuts
December 21, 2017
The Special Committee consists of CBC trustees, civic leaders, and policy experts, and will identify the greatest impacts and options for appropriate state and local government action.
Testimony
Taxes
Testimony on NY State Tax System
Delivered to the Senate Committee on Budget and Tax Reform
March 12, 2009
This testimony emphasizes two key points about New York’s personal income tax (PIT) and offers a framework for thinking about tax reform in the current fiscal context: 1) New York’s PIT is progressive, but its overall tax structure is not; and 2) New York’s economic competitiveness should be an important factor in considering changes to its tax rates.
Blog
State Budget
New York Taxes: Layers of Liability
June 25, 2020
Any consideration of tax increases should include the impact on State and local economic competitiveness
Blog
Taxes
A Disappointing Tax Deal
March 20, 2013
The NYS Enacted FY2014 Budget includes an extension of a personal income tax surcharge that is disappointing and should be reconsidered.
Blog
Taxes
The Tax Hike’s Silver Lining
December 07, 2011
If the temporary personal income tax hike is the price we pay for long-term reforms that enhance infrastructure, encourage job growth, make the state and local tax system more equitable, and reduce future pension costs, then it is a price worth paying.
Blog
Economic Development
NY’s Economic Development Programs Costliest in the Nation
April 07, 2017
It's official: NY's economic development programs cost more than in any other state.