Tax & Budget

Property Taxes in New York: A State Problem Calling for a State Solution

February 11, 2008. Why are property taxes so high in New York? State fiscal policies have created the bind. This brief looks at four reforms that would help - and could be funded in a way that makes the overall tax system fairer. In the meantime, a middle class circuit breaker would ease the pressure on the property tax much more effectively that the Middle Class STAR program. On May 22, 2008, the brief was handed out at a public meeting in New City hosted [...]

Fiscal Policy Institute2025-04-04T14:27:47-04:00February 11th, 2008|City Budget, Reports, Briefs and Presentations, State Budget, Tax & Budget|

Getting bang for our buck: Economic development in New York State

February 11, 2008. Despite the billions currently spent on economic development, we have relatively little to show for it. The appropriate guiding principle is building the middle class - thus increasing the already impressive productivity of New York workers. Logical next steps include scrapping Empire Zones, reforming IDAs and more. Brief >>

Fiscal Policy Institute2024-12-18T12:29:27-05:00February 11th, 2008|Economic Trends & Policy, Reports, Briefs and Presentations, State Budget, Tax & Budget|

Testimony on the 2008-2009 Executive Budget – Economic Development and Taxes

February 11, 2008. Testimony submitted by FPI executive director Frank Mauro to the Senate Finance and Assembly Ways and Means committees. Given the many signs that we are in a recession, state leaders must be especially careful about the way they close the state budget gap. Some gap-closing strategies could actually exacerbate the downturn.

Fiscal Policy Institute2024-12-18T12:29:27-05:00February 11th, 2008|Economic Outlook, Economic Trends & Policy, State Budget, Tax & Budget, Tax Policy, Testimony|

Archive: Property tax policy in the news

From February 2008 through June 2011, In reverse chronological order: July 10, 2011. Massachusetts has spent 30 years living with a property-tax cap. By Cara Matthews, Rochester Democrat and Chronicle. Also in the Binghamton Press & Sun-Bulletin, the Journal News (Westchester and Rockland), and the Albany Times-Union. In Massachusetts, local governments adopt one budget that includes municipal and school spending. Voters make the decision on all overrides. Proposition 2½ is less restrictive than New York's new cap, said Frank Mauro, executive director of the labor-backed [...]

Fiscal Policy Institute2025-04-04T14:27:47-04:00February 1st, 2008|City Budget, Tax & Budget|

Stimulating the Economy

January 29, 2008. An article by James Parrott, FPI's deputy director and chief economist, who writes monthly for Gotham Gazette's Economy section. Article >>

Fiscal Policy Institute2024-12-18T12:29:27-05:00January 29th, 2008|Economic Outlook, Economic Trends & Policy, Letters, Tax & Budget|

New York State’s Economic and Budget Outlook for 2008-2009

January 15, 2008. Economic and fiscal context for the 2008-2009 Executive Budget, including an analysis of the property tax crisis and alternative property tax relief mechanisms. Briefing book >>

Fiscal Policy Institute2025-04-04T14:27:48-04:00January 15th, 2008|City Budget, Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

Testimony on economic development in New York State

December 18, 2007. Submitted by FPI's chief economist James Parrott to the New York State Division of the Budget. New York's trillion dollar economy has the potential to be a dynamic economy that rewards all New Yorkers, but challenges abound, including volatility on Wall Street. And there is little to show for the billions of dollars spent on economic development in 2007 by state and local governments. New York needs a new approach that is strategic, diverse, coordinated and accountable. Testimony >>

Fiscal Policy Institute2024-12-18T12:29:28-05:00December 18th, 2007|Economic Trends & Policy, State Budget, Tax & Budget, Testimony|

Testimony of Frank Mauro before the NYS Division of the Budget Public Hearing on Property Taxes

December 13, 2007. This testimony describes the special problems faced by New York localities with relatively weak tax bases compared to their needs. To a large extent, state fiscal policies have caused great pressure on property taxes in needy cities, counties and school districts, including decisions: to reduce revenue sharing; to decrease the share of local school budgets covered by state aid, to divide the non-federal share of Medicaid costs without considering ability to pay, and to allocate STAR benefits in a way that exacerbates [...]

Fiscal Policy Institute2025-04-04T14:27:48-04:00December 13th, 2007|City Budget, Tax & Budget, Testimony|

Testimony of Frank Mauro before the NYS Assembly Standing Committee on Real Property Taxation

December 5, 2007. Using data from the American Community Survey, FPI estimates the cost, number of beneficiaries and average benefits of the circuit breaker credit, as proposed (Galef/Little A.1575/S.1053) and with several modifications. Read the testimony >>

Fiscal Policy Institute2025-04-04T14:27:48-04:00December 5th, 2007|City Budget, Tax & Budget, Testimony|

Impact of a budget veto on New Yorkers’ vital human needs

October 31, 2007. FPI senior economist Trudi Renwick participated in a telephone press conference organized by Citizen Action and the Emergency Campaign for America's Priorities to illustrate the impact of a budget veto on New Yorkers' vital human needs. Read ECAP's press release.

Fiscal Policy Institute2025-04-04T14:27:48-04:00October 31st, 2007|Blog, Tax & Budget|

Difference between the President’s Budget and House Appropriations: Impact on New York State for Selected Programs

October 29, 2007. President Bush has threatened to veto an array of appropriations bills because they provide funding for domestic programs above the levels he requested in his budget. Adopting the president's budget request would mean significantly less funding in some key domestic programs that provide critical services to a broad swath of families and communities - less than the House has appropriated, less than the amount needed to keep pace with inflation and in some cases, even less than 2007 levels. This one-pager includes [...]

Fiscal Policy Institute2025-04-04T14:27:48-04:00October 29th, 2007|Reports, Briefs and Presentations, Tax & Budget|