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Feeding the Reserves UNABRIDGED

Magazine Article by Mitch Unger, Controller and Principal, The Lovett Group on July 24, 2023

. It sends a message about board planning, available resources and budgeting capabilities. We recently took ... , budgeting capabilities, and available resources. A depleted reserve fund and an unbalanced budget indicate

A Tax Overhaul Plan Co-ops and Condos Will Love

New York City

-maligned property tax system adopts a new recommendation from the independent fiscal monitor Citizens Budget ... Citizens Budget Commission proposes pegging assessments to market value. ... The Citizens Budget Commission has come up with a property-tax overhaul proposal that would

Read de Blasio’s Lips: No Hike in Property Taxes

New York City

As city and state governments scramble to close budget gaps brought on by declining tax revenues ... Though the city faces a severe budget shortfall, Mayor Bill de Blasio has vowed

Pushback to Tax on Rich Absentee Co-op and Condo Owners

New York City

’s reports. The fiscally conservative Citizens Budget Commission (CBC) has joined forces with the Real Estate ... The Citizens Budget Commission thinks taxing rich absentee co-op and condo owners is the wrong way

The Burnishing of a Gold Coast Gym

Gold Coast, Manhattan

reserve fund, which meant that we had a very strict budget.” Roiter realized that it would have ... Operating on a tight budget, two dedicated unit-owners oversaw a major gym renovation

Battle Lost, but War to Reform Property Taxes Continues

New York City

to make it into the $89.15 billion budget deal struck between Speaker Corey Johnson and Mayor Bill de ... $400 tax rebate fails to make it into city’s new budget. ... Under a new city budget deal, homeowners who earn less than $150,000 will not be receiving a $400

Mayor Wants to Stop Expansion of Organics Composting

New York City

the program is "broken," Adams wants to cut $18.2 million from his proposed $98.5 billion budget by halting ... Green Ideas How NYC co-ops/condos save energy Energy is one budget item that NYC co-ops and condos ... Budget cuts derail ambitious plan to keep organic waste out of landfills.

Albany Says “Drinks for All!” as Title Insurance Reform Fades

New York City

, Albany’s pay-to-play culture was on display this week when the state Senate proposed a budget for 2018 ... State Senate budget would curb reforms on industry’s fee structure.

Con Edison and National Grid Say Energy Costs Will Soar This Winter

New York City

to bring soaring energy costs that will stretch the budgets of even the most far-sighted co-op and condo ... Co-op and condo budgets are facing unforeseeable pressures on all energy costs.

Most Co-ops and Condos Are Facing an 8% Jump in Property Taxes

New York City

of the cost of paying for the city’s new $107 billion budget for the 2023-24 fiscal year. Commercial ... New $107 billion city budget includes a tax cut for commercial properties.

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