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Con Edison's proposed rate increases attributed to property taxes
5:25:59
ยท
80 sec
Council Member Justin Brannan inquires about Con Edison's filed rate increases, which the company attributes to property taxes. Commissioner Preston Niblack provides a cautious response about the situation.
- Con Edison filed for steep electric and gas rate increases, potentially raising average bills by over 10%
- The company blamed the increases on property taxes
- Commissioner Niblack declined to comment specifically on Con Edison's tax liability in a public hearing
- The Department of Finance values and taxes Con Edison's property according to state law
Justin Brannan
5:25:59
Great.
5:26:00
Thank you.
5:26:01
We will get you that list if we haven't already.
5:26:04
Last from me is about Con Ed.
5:26:06
On January, Con Ed filed for steep electric and gas rate increases that would raise the average gas and electric bills by over 10%.
5:26:15
And they blamed everything on property taxes.
Kenneth Godiner
5:26:18
Taxes.
5:26:18
What
Justin Brannan
5:26:21
do you guys think of that?
Preston Niblack
5:26:26
I don't think it's appropriate honestly for me to comment on a specific owner's tax liability in a public hearing.
5:26:33
I'm not sure whether they filed with the tax commission.
5:26:37
I wouldn't do that for any other owner.
5:26:39
I think we hear fairly regularly from Con Ed regarding their tax bill.
5:26:46
I can get back to you with some more specifics about their tax bill, etcetera, but they own a lot of property.
5:26:52
We value their property according to state law.
5:26:56
We tax them according to state law using the rates that are adopted.
5:27:02
So it's really we're administering the law, and that's as much as I could really say about it right now.
Justin Brannan
5:27:12
Understood.
5:27:13
Okay.
5:27:14
Have questions from my colleagues, majority whip Brooks Powers followed by council member Hudson.
5:27:19
Thank you.