This testimony by CBC Deputy Research Director Elizabeth Lynam emphasizes two key points about New York’s personal income tax and offers a framework for thinking about tax reform in the current fiscal context: 1) New York’s personal income tax is progressive, but its overall tax structure is not; and 2) New York’s economic competitiveness should be an important factor in consi
This testimony by CBC President Carol Kellermann, written in response to New York City Mayor Michael Bloomberg’s modification to the fiscal year 2009 budget, urges the City Council to not vote to increase the property tax without simultaneously pursuing from the State Legislature reforms to make this tax more equitable and economically efficient. CBC suggests and explains five changes to do so and also offers four changes to the property tax structure that will lessen the inequities that put most of the burden of this tax on the City’s renters.
CBC Deputy Research Director Elizabeth Lynam testifies to a Joint Hearing of the Senate Committee on Local Government and the Assembly Committee on Real Property Taxation. To fund more appropriate taxpayer relief mechanisms the Middle Class STAR program should be replaced with an improved circuit breaker. Redistributing these funds would serve the dual purpose of not adding to what is already a $5 billion budget gap next year while at the same time allowing for a good start directing help to the most severely strapped local taxpayers.
CBC supports the recommendations of the Local Property Tax Relief Commission. Local property taxes in New York State are far too high, and the State needs to stop forcing costs onto local communities that can no longer afford them. High local taxes are in part driven by an undue burden placed on municipalities by the State.
This letter to Mayor Michael Bloomberg states that the Executive Budget is a critical juncture for New York City and for the mayoralty. CBC offers specific recommendations for improving the City’s fiscal health.
CBC releases a letter to Mayor Michael Bloomberg recommending five fiscal actions that it hopes will be priorities in the final months of the mayor's tenure. The letter commends the Mayor on his notable fiscal achievements to date and defines an agenda for further fiscal reforms – the need for better expenditure control, more disciplined debt policy, and better tax policy.
CBC comments on legislation under consideration by the New York State Legislature that would impose unfunded mandates on local governments by restricting their flexibility to address the growing liability of retiree health insurance.
CBC releases its recommendations for legislative changes to the Executive Budget presented by Governor Eliot Spitzer. The five changes in this statement would make the budget better suited to the current, uncertain economic times, more effective in using precious tax resources to support essential public services, and more supportive of lowered local tax burdens.
