New York State has proposed a plan to develop 10 new, mixed-use towers around Penn Station & to use the property tax revenue generated to finance the reconstruction & possible expansion of the country’s busiest train station. We examine what is included in the state’s plan & the fiscal implications
IBO presents 10 new ways NYC can cut costs or raise revenue. As with all of our 100+ options, we neither endorse nor reject the ideas. See the descriptions & estimates of revenues/savings, with pros & cons for each option.
As part of our recently released Education Indicators, IBO examined what impact living in a low-income neighborhood may have on student achievement, as well as how attending a school with a higher concentration of students from low-income neighborhoods affects individual achievement.
IBO updated the Fiscal History section of its website with Fiscal Year 2021 data on staffing and spending. Explore citywide numbers or drill down to the agency, as well as debt service, and revenues.
IBO has updated two sections of its Education Indicators: Student Attendance (data on average attendance and chronic absenteeism rates in traditional public schools) & Student Achievement (standardized test scores for grades 3-8 and Regents exam performance for high school students).
Anticipating a reduction in rental income, NYC sharply reduced the assessments used to calculate ‘22 tax bills. These reductions turned out to be an overestimate & the ’23 tax roll now reflects this as projected growth. IBO examines the reason for the change.
Included in its Preliminary Budget, the Adams Administration proposed 3 tax programs: one to enhance the value of city’s EITC, which increases the value of wages and salaries for low- and moderate-income tax filer; as well as 2 tax breaks to incentivize the development of childcare programs in NYC
Medicaid enrollment and claims in New York City have grown over the course of the course of pandemic, but the program’s extra costs have fallen on the federal government. IBO examines recent Medicaid trends and what the future might hold for the program & the city’s coffers.
In this brief, IBO examines the funding level for staff at the Civilian Complaint Review Board—the city agency charged with investigating police misconduct—and how it compares with City Charter mandated levels. We also examine how the time it takes for the review board to complete its investigations