On Oct. 13, 2009, the Select Committee on Budget and Tax Reform held a roundtable in Albany on evaluating the needs for and costs of New York State's property tax exemptions. The Select Committee discussed this issue with 18 experts primarily representing local government, economic development and nonprofit organizations from around the state.
Posted by Liz Krueger on Wednesday, December 16th, 2009
Senator Liz Krueger (D-Manhattan) released today a comprehensive report by the Senate Select Committee on Budget and Tax Reform on New York State’s property tax exemption system and its impacts on taxpayers. The report, which is based on oral and written statements from the Select Committee's October 13 roundtable in Albany, explores why the Legislature has struggled with controlling the growth of these exemptions over the past three decades.
Sen. Krueger spoke with New York Times columnist Michael Powell for this piece on abuses in the 421-a tax credit program:
State Senator Liz Krueger watches such unneeded tax subsidies — for energy, insurance, tobacco and luxury development — slip like barges down a darkened canal. She notes that the housing bill “was held hostage so a few well-connected developers could rob taxpayers to the tune of millions.”