Market value growth declined in FY 2010—the first decline since 1995. The total Citywide market value of fully and partially taxable property fell to $795.7 billion, about 1.9
percent lower than FY 2009. Manhattan market value growth remained positive in FY 2010
The City Charter requires that the Office of Management and Budget (OMB) publish documentation of forecasting methodologies used for projecting tax revenues for those taxes which account for five percent or more of total City tax revenues.