This report, mandated by the New York City Charter, identifies and describes tax expenditure programs related to taxes administered by the City and provides tax expenditure estimates based on available data.
This report provides data on Commercial Rent Tax (CRT) liability at the taxpayer and premises level.
The data sources for this report are taxpayers’ CRT tax year 2019 (June 1, 2018 – May 31, 2019) returns
and CRT collections data from Department of Finance records.
On Local Law 89 of 2019 amended Section 9-148 of the Administrative Code of
the City of New York to eliminate the uniform administrative fee for payments of bail unless the
chief administrator of the courts requires a party making a payment of bail to pay a reasonable
administrative fee.
Market value grew in FY 2017, for the sixth straight year. The total City-wide market
value of fully and partially taxable property exceeded one trillion dollars and was about
9.8 percent higher than FY 2016. Market value increased in all of the boroughs:
Market value grew in FY 2019, for the eighth straight year. The total City-wide market
value of fully and partially taxable property exceeded $1.2 trillion dollars and was about
8.8 percent higher than in FY 2018. Market value increased in all of the boroughs:
Market value grew in FY 2018, for the seventh straight year. The total City-wide market
value of fully and partially taxable property exceeded one trillion dollars and was about
8.0 percent higher than in FY 2017. Market value increased in all of the boroughs:
This memorandum provides modifications to the required methodology for the attribution of interest deductions for taxpayers subject to the Business Corporation Tax (BCT), General Corporation Tax (GCT), Banking Corporation Tax (BTX) or the Unincorporated Business Tax (UBT)
Local Law 249 was passed by the New York City Council on November 16, 2017, and took effect July 1, 2018. The law
requires the Department of Finance (DOF) to notify property owners when real estate instruments are recorded on their
properties
The ombudspersons provide data regarding their work at the end of each fiscal year and make annual recommendations to the commissioner of DOF regarding Rent Freeze Program operations
Section 19-203(b) of the Administrative Code of the City of New York authorizes the New York City Department of Finance (“DOF”) to provide for penalties for parking violations.