Is Garbage anyone's property?

I live in New York State and have heard that once you put your trash out, you forfeit ownership. If its fine for cops to take, is it free for anyone?

Since the definition of garbage is "discarded, worthless, unwanted material", I would say that once it is placed on the street for pickup, it is up for grabs.
If you are discarding material that you might not want other people to see, you should invest in a shredder