{"id":376411,"date":"2026-10-18T20:52:18","date_gmt":"2026-10-18T20:52:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/376411\/"},"modified":"2026-10-18T20:52:18","modified_gmt":"2026-10-18T20:52:18","slug":"con-edison-bills-will-soon-show-how-much-of-your-cash-goes-to-nyc-property-taxes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/376411\/","title":{"rendered":"Con Edison bills will soon show how much of your cash goes to NYC property taxes"},"content":{"rendered":"

Con Edison will tell its customers a main reason why its electric bills are so high <\/a>\u2014 they\u2019re forced to offset the company\u2019s own hefty \u201cregressive\u201d property tax burden charged by the New York City government.<\/p>\n

The utility giant said property taxes account for a significant 21% share of the total monthly bill customers pay as Con Edison\u2019s $2.6 billion in property taxes last year made it the largest taxpayer in the city.<\/a><\/p>\n

The customer\u2019s total bill share jumps to about 30% when other state taxes and fees are included, officials said.<\/p>\n

\"ANew Yorkers will soon see how much of their Con Edison bills are going towards New York City property taxes. Christopher Sadowski for NY Post<\/p>\n

Con Ed\u2019s property taxes <\/a>have skyrocketed by 45% from 2019 to 2024.<\/p>\n

A former state utility regulator said the property taxes imposed on Big Apple residents are obscene.<\/p>\n

\u201cThe taxes paid by Con Ed customers are simply usury. It discriminates against lower income and small business customers,\u201d said John Howard, a former chairman of the Public Service Commission.<\/p>\n

\u201cNo other municipality in New York State pays such outrageous utility taxes. And the worst part it\u2019s hidden in the bill,\u201d he said.<\/p>\n

Con Ed said its customers need to know the truth about the rising property taxes\u2019 impact on their utility bill.<\/p>\n

\u201cOur goal is to help customers understand how much of their bill is going to support other things \u2014 schools, police, fire, all the things that municipalities use their tax revenue for \u2014 and to really open a conversation about whether the utility bill is the right place to be raising those funds,\u201d said Con Ed Senior Vice President of Corporate Affairs Jen Hensley.<\/p>\n

\u201cCon Edison\u2019s payment for New York City property taxes have increased 45% over the last five years,\u201d she said. \u201cThat\u2019s vastly outpacing the rate of inflation. It\u2019s outpacing other parts of our bill.\u201d<\/p>\n

\"ACon Edison claims that 21% of the monthly bill customers pay goes to property taxes. Christopher Sadowski<\/p>\n

The state PSC in January authorized Con Ed to hike electric bills by 10.4%<\/a> and inflate gas bill 15.8% over three years \u2013 costing the average Big Apple resident an eye-watering $600 more per year by 2028.<\/p>\n

As part of the settlement with the parties in the rate-setting case including New York City, Con Edison was given the green light to spell out the impact property taxes has on customer bills. <\/p>\n

Former Mayor Eric Adams did not object and neither did Mayor Zohran Mamdani, but Mamdani is now pushing against the new disclosure.<\/p>\n

\u201cIf Con Edison wants to include the costs of city property taxes in bills, which all private properties pay to fund our city\u2019s vital public services, it should also itemize its shareholder profits and other taxes,\u201d City Hall spokesperson Jeremy Edwards told Politico.<\/p>\n

Edwards provided the same statement to The Post, adding, \u201cNew Yorkers already pay some of the highest energy costs in the nation, and they deserve transparency from their utility provider. <\/p>\n

\u201cBy misleading its customers about what\u2019s really driving up their bills, Con Edison is adding insult to injury,\u201d the spokesperson said.<\/p>\n

City Hall also sought to shift the blame for higher property taxes to state officials.<\/p>\n

The PSC approved large increases in Con Edison\u2019s annual capital spending, which led to large increases in the value of its taxable real property, according to the mayor\u2019s office.<\/p>\n

Much of Con Edison\u2019s property, including its poles, wires, transformers, pipes, and other equipment located in city streets, is assessed by the New York state, not the city.<\/p>\n

And Con Edison\u2019s property taxes increase each year because of it surging state property tax assessments, not city tax rates that have not been stable since 2017, Mamdani\u2019s office said.<\/p>\n

Con Ed said in a statement the pipes, wires, and equipment that make up its grid are taxed differently from regular commercial property and at a higher rate than utility peers.<\/p>\n

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In testimony on the state budget in February, Con Edison officials testified that the 21% share of customer bills is nearly double the 12% share at other utility companies.<\/p>\n

\u201cThis disparity illustrates that Con Edison\u2019s customers are uniquely exposed to elevated tax-driven charges that utilities in other regions simply do not face,\u201d the company said in a statement. \u201cAs property taxes imposed on Con Edison flow directly and immediately into customer bills, any increase in these taxes results in higher costs for ratepayers.<\/p>\n

\u201cThese charges are fixed components of delivery rates and customers have no ability to avoid or reduce them,\u201d the statement went on. \u201cEvery additional tax assessment on Class 3 utility property is reflected in the bills paid by households, small businesses, and essential service providers.\u201d<\/p>\n

From 2019 to 2024, Con Ed\u2019s operating expenses increased 27%, while its tax burden income increased by more than 36%, an independent study said.<\/p>\n

As a result, the taxes have become a growing portion of the monthly bill charged to Con Ed customers.<\/p>\n

A cap on annual property tax assessments on residential properties has shifted more of the tax burden on Con Ed.<\/p>\n

\u201cThe slower market value appreciation of utility assets has resulted in utilities being the pressure valve in the New York City tax system by absorbing a greater share of excess annual property tax increases. Unfortunately, this regressive cap system may get worse in coming years,\u201d the analysis by Paul Alexander said.<\/p>\n

Con Edison has sought reforms in Albany that would reduce the tax burden on customers, including a state law to establish property tax exemptions and abatements for clean energy infrastructure investments.<\/p>\n","protected":false},"excerpt":{"rendered":"Con Edison will tell its customers a main reason why its electric bills are so high \u2014 they\u2019re…\n","protected":false},"author":2,"featured_media":376412,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[1168,7442,57,9,24,55,54,56,58,82],"class_list":["post-376411","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-con-edison","tag-electricity","tag-metro","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-us-news","tag-zohran-mamdani"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/376411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=376411"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/376411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/376412"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=376411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=376411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=376411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}