New York CIty Council Member Ben Kallos

Tax Reform

Habitat A New Way to Level the City’s Lopsided Property Tax System by New York City

A New Way to Level the City’s Lopsided Property Tax System
New York City

City council members Helen Rosenthal and Ben Kallos, both Manhattan Democrats, have introduced a bill to require the periodic reviews as a way of preventing the system from becoming warped over time, as has happened since the last major changes were made four decades ago.If the bill becomes law, it would create a commission appointed by the mayor and speaker to analyze the system in terms of “equity, efficiency, transparency, ease of administration, and compliance.” It would be required to hold two public hearings and issue a report with an analysis and recommendations by November 2030. The process would repeat every 15 years.