Con Edison bills will soon show how much of your cash goes to NYC property taxes

Con Edison will tell its customers a main reason why its electric bills are so high — they’re forced to offset the company’s own hefty “regressive” property tax burden charged by the New York City government.The utility giant said property taxes account for a significant 21% share of the total monthly bill customers pay as Con Edison’s $2.6 billion in property taxes last year made it the largest taxpayer in the city.The customer’s total bill share jumps to about 30% when other state taxes and fees are included, officials said.Con Ed’s property taxes have skyrocketed by 45% from 2019 to 2024.A former state utility regulator said the property taxes imposed on Big Apple residents are obscene.“The taxes paid by Con Ed customers are simply usury.It discriminates against lower income and small business customers,” said John Howard, a former chairman of the Public Service Commission.“No other municipality in New York State pays such outrageous utility taxes.

And the worst part it’s hidden in the bill,” he said.Con Ed said its customers need to know the truth about the rising property taxes’ impact on their utility bill.“Our goal is to help customers understand how much of their bill is going to support other things — schools, police, fire, all the things that municipalities use their tax revenue for — and to really open a conversation about whether the utility bill is the right place to be raising those funds,” said Con Ed Senior Vice President of Corporate Affairs Jen Hensley.“Con Edison’s payment for New York City property taxes have increased 45% over the last five years,” she said.“That’s vastly outpacing the rate of inflation.

It’s outpacing other parts of our bill.”The state PSC in January authorized Con Ed to hike electric bills by 10.4% and inflate gas bill 15.8% over three years – costing the average Big Apple resident an eye-watering $600 more per year by 2028.As part of the settlement with the parties in the ...