The main objective of Curtis Sliwa’s Property Tax Reform Plan is to deliver a fair, efficient, and transparent property tax system to New York City. Remedying decades of tax inequality, this plan eliminates unfair tax benefits and ensures that New York City’s low- and middle-income communities are no longer forced to subsidize the City’s wealthiest residents and neighborhoods. As the boldest tax proposal of any mayoral candidate in recent history, this plan will finally deliver the tax equality and fairness that has eluded New York City since the 1980s. By finally making private, wealthy universities and landlords pay their fair share, I will create millions of dollars in new tax revenue that refunds our police department and delivers economic relief to low- and middle-income NYC residents, while keeping NYC’s budget balanced. I am proposing the following major reforms to NYC’s property tax system:

    1. 2% Property Tax Cap: Implement a 2% Cap on NYC’s Annual Tax Levy
    2. Market Value Assessments: Value and Assess all Residential Properties and New Construction Based on Actual Fair Market Value
    3. Tax Exemption Efficiency Review: Launch a Comprehensive Review of All Properties Receiving Property Tax Exemptions to Ensure NYC’s Tax Expenditures are Being Spent Efficiently; Implement Reviews Every 10 Years
    4. Eliminate University Tax Privilege: Require That Wealthy, Private Universities, Colleges, and Hospitals Pay Their Fair Share in Property Taxes
    5. Eliminate MSG’s Tax Privilege: Eliminate Madison Square Garden’s Property Tax Exemption (Estimated at $42.4 Million/Year)
    6. Supporting Our Seniors: Provide a Property Tax Deduction for Seniors with Household Income Below $75,000
    7. Octennial Efficiency Reviews: Institute a Comprehensive Review of NYC’s Property Tax System Every 8 Years to Ensure It Stays Fair, Efficient, and Transparent
nicole malliotakis for mayor
READ THE FULL PLAN download pdf
STAND WITH CURTIS