Some state lawmakers are hoping to get a bill passed that would put an end to property tax breaks for New York University and Columbia University.
The measure aims to have those institutions pay full property taxes. The money would then be used to help fund the CUNY school system.
Columbia and NYU saved a combined $327 million on property taxes last year. Both are among the city’s largest private property owners.
It all comes as CUNY faces funding challenges and at least two CUNY colleges in Queens laid off dozens of staff members in recent weeks.
State Assemblymember Zohran Mamdani, who introduced the bill, joined NY1 political anchor Errol Louis on “Inside City Hall” Friday to talk more about the details of the legislation.
“What we need to see is these universities paying their fair share. We’ve seen, in other parts of the country, universities who have started to take steps toward this,” he said. “But with regards to Columbia and NYU, we have not seen anything close to what they actually owe.”
Mamdani represents neighborhoods in Queens, including parts or all of Astoria and Ditmars-Steinway.
Editor’s note: For full disclosure, Errol Louis is an adjunct professor at the Newmark Graduate School of Journalism at CUNY.