Cuomo expects NYC to take lead on property tax reform

Despite Mayor de Blasio’s vow to overhaul system, elected officials doubt any change is imminent

TRD New York /
Feb.February 25, 2020 10:00 AM
Governor Andrew Cuomo and Mayor Bill de Blasio (Credit: Getty Images)

Governor Andrew Cuomo and Mayor Bill de Blasio (Credit: Getty Images)

Despite Mayor Bill de Blasio’s latest push to do something about the city’s convoluted property tax system, state lawmakers aren’t expecting anything to happen soon.

“I am absolutely not optimistic that there will be legislation this session,” state Sen. Brian Benjamin of Harlem told the New York Times. “This is going to be an important conversation that you cannot rush.”

“We don’t have a bill. We don’t have anything to support. You can’t support a report,” Assemblyman Joseph Lentol of Brooklyn told the paper.

Gov. Andrew Cuomo’s office is also waiting for city officials to make a decision first, his press secretary said.

The most recent attempt to reform the city’s tax system came in response to a 2017 lawsuit, whose mix of plaintiffs included city landlords and the NAACP.

The city announced the formation of a commission to review the tax system last May, and the mayor has vowed an overhaul before his term ends at the end of next year.

Deputy Mayor for Housing Vicki Been expressed doubts last September that such a goal is “realistic,” she said, though City Hall has distanced itself from those comments.

The commission’s first overdue report was not well-received, with a representative for the plaintiff coalition calling it “not anything new” last month. The group, Tax Equity Now, plans to move ahead with its lawsuit against the city and state. [NYT] — Kevin Sun


Related Articles

arrow_forward_ios
Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Owners of some residential properties can’t hide behind
LLCs anymore
Governor Andrew Cuomo and 538 Johnson Avenue in Brooklyn (Credit: Google Maps and Getty Images)

Landlords take another hit: Cuomo signs expanded Loft Law

Landlords take another hit: Cuomo signs expanded Loft Law
Governor Andrew Cuomo (Credit: Getty Images)

Cuomo wants to exempt NYC from prevailing wage bill

Cuomo wants to exempt NYC from prevailing wage bill
A construction worker at One Vanderbilt in August (Getty)

City reports decline in construction-related injuries, deaths

City reports decline in construction-related injuries, deaths
Bill de Blasio and Andrew Cuomo, with (from left) Steven Roth, Jeff Blau, Rob Speyer, Douglas Durst, Ziel Feldman and Steven Schwarzman (Getty)

Real estate execs to city, state: Let us help with recovery efforts

Real estate execs to city, state: Let us help with recovery efforts
A rendering of the Climate Solutions Center with Trust for Governors Island CEO Clare Newman and Mayor de Blasio (Rendering via WXY architecture + urban design/bloomimages; Governor's Island; Getty)

Going green: Governors Island could soon house climate center

Going green: Governors Island could soon house climate center
Mayor Bill de Blasio (Getty; iStock)

De Blasio: Raising property taxes “off the table”

De Blasio: Raising property taxes “off the table”
Following pressure from business leaders, Mayor Bill de Blasio calls for the return to the office (Getty)

De Blasio calls for return to the office, restores trash pickups

De Blasio calls for return to the office, restores trash pickups
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...