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A broken system

JUNE 24, 2021 | CITY JOURNAL | by Howard Husock, E.J. McMahon

By Howard Husock and E.J. McMahon, includes “Sky-high property taxes add to the cost of living and doing business in New York. Over the past decade, Governor Andrew Cuomo’s cap on property-tax levies outside New York City finally has brought a measure of control to suburban tax bills. It’s time New York coupled property-tax limits with tax fairness—and joined other large states that require regular property reassessments at full market value.”

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These public pension systems used to have too much money. Now they’re broke. What happened?

JUNE 24, 2021 | MARKETWATCH | by Katie Marriner, Andrea Riquier

By Katie Marriner and Andrea Riquier, includes “In 2001, some of the country’s biggest public pension systems were flush. The plan serving Kentucky state workers, for example, was 125.8% funded, meaning it had 25.8% more money on hand to pay all of what it owed current retirees and workers expected to retire for the next 30 years. But not even two decades later, Kentucky’s pensions, and some other previously over-funded plans, were in crisis. What happened? …”

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