New York is one of only 14 states that still impose an estate tax. The new state budget moves a big step towards repeal—but more needs to be done to avoid chasing away wealth.
A challenging fiscal environment and notoriously high property taxes have raised structural and service issues to new levels as communities explore the potential efficiencies to be gained through shared services, dissolution and consolidation.
In his fourth annual State of the State message tomorrow, Governor Andrew Cuomo will (naturally) seek to highlight the most positive aspects of New York’s economic performance under his leadership.
A bill implementing a larger New York City income tax hike than the one proposed by Mayor-elect Bill de Blasio has been introduced in the Legislature by state Sen.Adriano Espaillat, a Democrat representing upper Manhattan and the Bronx.
The Pataki-McCall tax commission report unveiled on Long Island today is a decidedly mixed bag..
The expected state court battle over newly enacted public pension changes in Illinois will bear close watching throughout the country–especially in New York. That’s because, when it comes to protecting pension benefits, the 1970 Illinois State Constitution closely follows the wording of New York’s 1938 State Constitution.
The report of Governor Cuomo’s Tax Reform and Fairness Commission is a useful, well researched collection of interesting and provocative ideas — some much better than others. Not a bad place to start a further exchange of ideas leading to a fruitful debate on the topic, assuming such a thing is possible in Albany.
Governor Andrew Cuomo has approved a $96 million deficit bonding bailout for Rockland County — with no strings attached, other than once-a-year review of the county executive’s budget proposal by the state comptroller. The bill sets a terrible precedent, signaling distressed municipalities across New York that they, too, might be able to buy time with borrowed money.
Governor Cuomo today signed a bill imposing a 2 percent cap on increases in property tax assessments the “base agricultural assessment value” for farms.
Mayoral candidate Bill de Blasio’s “big, bold” proposal to hike the marginal income tax rate in New York City has smoked out Governor Andrew Cuomo’s now-you-see-it, now-you-don’t supply side.
Local government is a labor-intensive business, and employee compensation is the single biggest element of most municipal budgets. The 2012-13 edition of What They Make, the Empire Center's annual report on public payrolls, allows New York taxpayers to compare this key element of local government costs around the state...
No city in America can match New York’s broad array of taxes—more typical of a state than of a municipal government. Most New York City residents and businesses are subject to combined state and local tax rates far exceeding national norms. Such high taxes are a headwind against economic growth: they add to overhead, cut into profits, and make it costlier to employ people.