Category: Commentary

Why are New York's property taxes so high? Gov. Andrew M. Cuomo claims it is "because we have 10,500 local governments." That would be pretty alarming -- if it were true. In fact, according to the Census Bureau, New York has 3,453 local governments, a little less than one-third the governor's number. Relative to population, that's not especially large by national standards. Read More

In total, the state's multiple levels of government burn through more than $190 billion a year from their own revenue sources, mainly taxes. Another $60 billion comes the federal government - which has its own claim on our wallets. But where does it all go? Thanks to the digital revolution, anyone with access to the Internet can begin to find some answers to that question. Read More

Gov. Cuomo is proposing the most significant reform and reduction of New York’s estate tax in 17 years. This is a big reason why public employee unions and their allied advocacy groups are now claiming that Cuomo’s tax agenda favors “millionaires and billionaires.” Read More

New York is now one of only 14 states still imposing any tax on estates — the cash, land, houses, financial assets and other property left by deceased residents. The state estate tax, also called the "death tax," is triggered once assets exceed $1 million. By contrast, the federal government only taxes estates worth more than $5.34 million, a figure that will rise with inflation every year. Read More

High-income New Yorkers are probably the least stable, consistent and reliable segment of the city's income tax base. According to state tax data, there were 49,000 city households with adjusted gross income of more than $500,000 as of 2007. They earned $135 billion that year. Read More

‘Building on Success” was the theme of Gov. Cuomo’s election-year budget presentation in Albany this week. But while Cuomo boasts he’s got New York headed in the right direction, the latest economic and demographic indicators suggest we still have a long way to go. Read More

In his State of the State message last week, Gov. Cuomo once again cited the new Tappan Zee Bridge as a symbol of his ability to move forward on big, important infrastructure projects. But the governor hasn’t leveled with commuters and truckers on what they’ll be paying for this progress. Hint: a lot more than they do now. Read More

Unfortunately, Mr. Cuomo so far has been unwilling to combine the tax cap with meaningful local-mandate relief, especially public-sector collective-bargaining reforms that would give county executives, mayors and school boards more tools to live within the cap. Read More

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