Local tax cap may dip in ’15 by Tim Hoefer | | NYTorch

Tax Cap
The property tax cap for New York counties, towns and villages with fiscal years starting January 1, 2015 will start at 1.56 percent, slightly lower than last year's starting rate of 1.66 percent. The cap in each locality will vary based on the amount of applicable allowable exclusions for growth in local property values. Localities also will be able to exclude the amount by which the change in pension contributions exceeds two percentage points

The Times hypes an IBO analysis by E.J. McMahon | | NYTorch

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Most high-income New York City residents who left the city in 2012 moved to neighboring jurisdictions, according to a new analysis of federal Census data by the city Independent Budget Office (IBO).

Today's Times claims this shows that wealthy New Yorkers are not "fleeing the city for tax havens." But who says they are? Besides, compared to the city, suburban New York, New Jersey and Connecticut are tax havens.

How state is spending $35M to tout “Start-Up” by Tim Hoefer | | NYTorch

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After seven months of foot-dragging, New York's economic development agency finally got around to answering the Empire Center's request for details of state spending on an advertising campaign promoting the Start-Up NY tax-free zone program.

The total price tag for the campaign over the past year has been nearly $35 million, most of it spent on TV commercials outside and inside New York State, according to the summary we received.

NY job growth still behind US by E.J. McMahon | | NYTorch

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New York State's year-over-year private sector job creation rate remained behind the national average in June. Seventy percent of the new jobs were in New York City, and upstate employment barely grew at all.

The Senate GOP’s BNP $ mash-up by E.J. McMahon | | NYTorch

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State Senate Republicans have issued a news release explaining how they'd like to spend upwards of $3 billion in penalties that will be paid into the state budget's general fund by the French bank BNP Paribas for violating trading sanctions with Cuba, Iran and Sudan.

Unfortunately, the Senate's "bold plan" isn't nearly bold enough.

How to spend a $3.3b windfall by E.J. McMahon | | NYTorch

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New York's $3.3 billion windfall from the criminal penalties paid by a French bank should be spent to backfill the state's under-nourished and over-leveraged transportation capital plans.