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NYC Property Tax Reform

Project: NYC Property Tax Reform
Managing Agency: NYC Property Tax Reform Commission
Location: Citywide 
Project Description:
The City’s Advisory Commission on Property Tax Reform is tasked with evaluating the current property tax system in New York City and recommending reforms to make the process fairer, simpler, and more transparent. The Commission’s work was suspended in March 2020 during Covid-19 but as of May 2021, the Commission has resumed public hearings on the preliminary tax reform recommendations released in January 2020. Public testimony will help inform the agency’s final report due in late 2021.

Expected Date of Completion: Late 2021

May 27th Brooklyn Borough Public Hearing: The public is invited to attend the Brooklyn Zoom hearing on Thursday, May 27, 6:00pm (Link to Hearing) To testify or submit testimony, you must sign up no later than 24-hours before the hearing begins. The Brooklyn hearing will be broadcast to the NYC Council’s Virtual Room 2.  Those who have registered will receive a Zoom invitation 24-hours before the hearing begins.  Speakers should plan to testify no longer than two minutes.  Commissioners may use additional time to ask questions about their testimony.

Public Hearings: The Commission began holding hearings in summer 2018 and will schedule additional hearings beginning Spring 2021 in each borough to solicit public input on the Preliminary Report in the near future. For more information and upcoming public hearing dates, visit https://www1.nyc.gov/site/propertytaxreform/hearings-meetings/hearings-meetings.page. Live streams of past public hearings on tax reform are available to view at the link provided.  Those who cannot attend a public hearing are encouraged to submit testimony online via the Property Tax Commission’s website or by emailing proptaxinfo@propertytaxcommission.nyc.gov. Your feedback will be critical to the Commission as it develops its final recommendations.

2020 Preliminary Tax Reform Report: The New York City Advisory Commission on Property Tax Reform released its Preliminary Report on January 31, 2020. The report includes 10 initial recommendations to address inequities in the current system and create a simpler, clearer and fairer property tax system. Read a brief overview of the Commission’s 10 Preliminary Recommendations. Read the Commission’s full report at  https://www1.nyc.gov/assets/propertytaxreform/downloads/pdf/NYC-AdvCommission-Prelim.pdf

About the Commission: Announced in May 2018, the New York City Advisory Commission on Property Tax Reform works to evaluate all aspects of the current property tax system in New York City and recommend reforms to make it fairer, simpler, and more transparent, while ensuring that there is no reduction in revenue used to fund City services. The Commission released a preliminary report in January 2018 but subsequent work, including holding public hearings, was delayed by Covid-19. For additional information about the tax reform process, please visit https://www1.nyc.gov/site/propertytaxreform/index.page