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
A report issued last week by one of Gov. Andrew Cuomo's two tax commissions has rekindled debate regarding taxes in the Empire State. Former Gov. George Pataki and former state Comptroller Carl McCall headed the commission. E. J. McMahon, president of the Empire Center for Public Policy, praised the report's recommendation the state cut the top estate-tax rate and raise the taxable estate threshold to federal levels. "The Empire State would remain one of a very few jurisdictions still imposing any death tax, but it would at least take a smaller bite out of fewer estates," he said in comments published in the New York Post. Read More
Gov. Cuomo has just been handed a decidedly mixed bag of tax-reduction recommendations — combining pro-growth business-tax cuts with a gimmicky “property-tax relief” package that would deliver virtually no economic bang for the buck. Read More
Governor Cuomo has projected that maintaining a 2 percent cap on annual growth in state expenditures could lead to a budget surplus of up to $2.9 billion by fiscal year 2017. The key question, in his words, is “how do you use this period of growth to actually increase the economic competitiveness of the state of New York?” Based on our analysis of New York’s state and local tax structure, that question could be answered by addressing the following five initial tax policy priorities, which would not only make New York more business-friendly, but would reduce the high tax burden on all New York residents Read More
Thanks to state budget gridlock in Albany, New York City homeowners will have to wait at least a little longer for Mayor Bloomberg's $400 property tax rebate. Read More
Property taxes are unpopular with homeowners from coast to coast - and nowhere more so than in NewYork state, which is home to some of the highest property taxes in the nation. Relative to property values and incomes, the property tax burden might be heaviest of all in Central New York and other Upstate regions. Read More
New York state's 2006-07 budget features a record $1.3 billion increase in support for K-12 public education. State school aid is up 8 percent from the previous year, boosting the total to an all-time high of $17.6 billion. Read More
When it comes to reducing property taxes, New York's two leading gubernatorial candidates are hitching their wagons to George Pataki's STAR. Read More