This episode is from the WNYC archives. It may contain language which is no longer politically or socially appropriate.
Beame, NYC Budget Director, answers questions.
Marvin Sleeper moderates.
Panelists: Jim Farrell, Larry Lipsitz, Lawrence Barrett
Expense budget provides for the daily housekeeping needs of the city: salary, supplies, food, etc. Capital budget is a list of public improvements which the city expects will be implemented in the following year. An expense budget is spent without going to the Board of Estimate. Capital budget items require Board of Estimate approval. Capital budget money is obtained through borrowing. Expense budget money comes from state aid, real estate taxes, and non-property taxes. Confident the budget will be balanced without any increase in state aid or taxation. Increase in real estate taxes would be due to the fact that more money would be needed to run the government. Up to a constitutional limit, which we're currently at. Taxes from horse tracks should be given to the city, not the state. NYC should be treated the same as any other county in the state. Real estate taxes are based on an average from the past five years, not the current value. Raising real estate taxes doesn't necessarily discourage development. NYC's tax rate is in the middle of all the cities of New York State - 4.02%.
Audio courtesy of the NYC Municipal Archives WNYC Collection
WNYC archives id: 72301
Municipal archives id: LT7576