Columbia and N.Y.U. Would Lose $327 Million in Tax Breaks Under Proposal

New York state lawmakers will unveil legislation on Tuesday that would eliminate enormous property tax breaks for Columbia University and New York University, which have expanded to become among New York City’s top 10 largest private property owners. The bills would require the private universities to start paying full annual property taxes and for that money to be redistributed to the City University of New York, the largest urban public university system in the country.