Albany has dropped the ball yet again on property tax reform
We are tired of lamenting New York City’s broken property tax system. Yet here we are again, with another “big ugly” Albany budget in the books and still no meaningful property tax reform from our colleagues in state government. It wasn’t even mentioned! We believe this is nothing short of a dereliction of duty.
At the city level, we have come to a broad consensus that the property tax system is inherently unfair, from Brad Lander to Joe Borelli and everyone in between. People who couldn’t differ more deeply on ideology all seem to finally agree that our property tax system needs a heavy dose of corrective fairness.
Middle-class homeowners, like those that live in Bay Ridge and Flushing in districts we were elected to represent, have been unfairly burdened as inequities across property types have created unfair advantages for luxury condominium owners and real estate magnates.
Fortunately, this broad coalition at the city level has put forth a clear path for reform. It includes creating a new tax class for small residential property owners, ending the requirement to value co-ops and condos based on comparable rental buildings, and fixing tax class rates for five-year periods to create a more transparent system.
There is just one problem: under New York State law, these badly needed reforms require approval from our lawmakers in Albany.
In spite of – or rather because of – the state’s inertia, we have taken action where we can at the city level. In addition to laying the groundwork for our colleagues in Albany, we have been working to implement measures to provide relief to property owners and make the system more transparent and fair.
In 2022, we issued New York City’s first property tax rebate in 15 years. Meanwhile, a new online portal provides easy access to information about property taxes and allows residents to make payments and file appeals.
We have also been working to address some of the specific challenges faced by certain types of property owners. For example, we implemented a program to provide relief for seniors on fixed incomes and worked to reduce property taxes for small businesses struggling to keep up with rising costs.
But these measures only begin to address the underlying issue, which is that we need meaningful property tax reform and we need it now. The fact that another year has passed and Albany has once again failed to act only underscores the urgency.
Getting to a consensus on the city level required courage. We had to set aside political expediency and put the needs of New Yorkers first. That is tough to do. But to be a good representative, it’s also something you must do. Our colleagues in Albany need to do the same: get brave, and make property tax reform a top priority. Anything less signals complicity in maintaining the broken status quo: inequity hidden in plain sight.
We recognize this is a complex issue that requires careful consideration and input from all stakeholders, but it is also an issue we can no longer ignore. The consequences of inaction are too great.
New Yorkers deserve a system that is fair, transparent and accountable, and brings real relief to property owners burdened with paying more than their fair share all these years. That burden demands our full attention and focus until we have achieved meaningful progress. Our city’s residents deserve nothing less.
Justin Brannan represents southwest Brooklyn’s 43rd Council District.
Sandra Ung represents the 20th Council District, which includes Flushing, Mitchell-Linden, Murray Hill, Queensboro Hill and Fresh Meadows.
