PRELIMINARY BUDGET FOCUS: Just hours before the Mayor released the 2022 Preliminary Budget he learned that the Federal Emergency Management Agency was increasing its reimbursement rate to the city for Covid-related costs. How much more can the city expect and what does this mean for city spending?
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.
The Mayor's Press Office releases information about notable events and actions taken by the Mayor, as well as transcripts of all media conferences, radio shows, and ceremonies that the Mayor attends.
TRS' Annual Comprehensive Financial Report is part of the City's overall financial reporting and presents TRS' financial position and the results of TRS operations.
This report captures both routine cleaning and specialized repair performed in individual parks as recorded in the Department’s Daily Tasks and AMPS applications. These costs are reported by park.
This report captures goods and services provided or donated to the Department by non-governmental entities, and does not include the value of services provided to the Department of Parks & Recreation.
On January 22, 2015, Mayor Bill de Blasio signed Local Law 11 of 2015 which requires the New York City Department of Finance (DOF) to report annually to the city council on outstanding Environmental Control Board (ECB)-adjudicated judgments by November 1.
The Mayor's Press Office releases information about notable events and actions taken by the Mayor, as well as transcripts of all media conferences, radio shows, and ceremonies that the Mayor attends.
On January 22, 2015, Mayor Bill de Blasio signed Local Law 11 of 2015. The bill, approved by
the New York City Council at its stated meeting on January 7, 2015, requires the New York City
Department of Finance (DOF) to report annually to the city council on outstanding Environmental
Control Board
The Real Property Transfer Tax (RPTT) is imposed on the consideration for the following conveyances
or transfers where the consideration exceeds $25,000:
Findings from a DOI Investigation into the City Department of Environmental Control Board (ECB) summons enforcement and collection, which identified serious holes in the process that results in City losing out on much needed revenue.
Since 2009, DCAS has coordinated with City agencies to benchmark nearly 3,000
public buildings including libraries, police stations, firehouses, schools, colleges,
courthouses, hospitals, community centers and government offices.
A report which highlights current economic conditions pertinent to New York City. The report focuses on the state of the U.S. Economy, financial markets, inflation, New York City labor markets and commercial and residential real estate. (August 2020)
The Mayor's Press Office releases information about notable events and actions taken by the Mayor, as well as transcripts of all media conferences, radio shows, and ceremonies that the Mayor attends.
The Mayor's Press Office releases information about notable events and actions taken by the Mayor, as well as transcripts of all media conferences, radio shows, and ceremonies that the Mayor attends.
Market value grew in FY 2020, for the ninth straight year. The total citywide market
value of fully and partially taxable property exceeded $1.3 trillion and was 5.2 percent
higher than in FY 2019. Market value increased in all boroughs:
This report presents statistical information for Tax Year 2016 for three New York City business
income taxes: the Business Corporation Tax (COR), the General Corporation Tax (GCT), and the
Unincorporated Business Tax (UBT).
Local Law 4 of 2006 requires the New York City Department of Finance (DOF) to report annually to the New York City Council on the sale of tax liens during the preceding year. This report summarizes tax lien sale activity for calendar year 2020
The Department of Finance is required to submit an annual report to the New York City Council
no later than May 1 detailing the activities of the Office of the Taxpayer Advocate during the
preceding year. This reports activity for calendar year 2020.
This document reflects the NYC Community Development Block Grant (CDBG) budget for CFY 2021. CDBG is a funding stream from the U.S. Department of Housing and Urban Development (HUD).
The Real Property Transfer Tax (RPTT) is imposed on the consideration for the following conveyances
or transfers where the consideration exceeds $25,000:
The New York City Mortgage Recording Tax (MRT) is an excise tax imposed on the recording of a
mortgage on real property located in New York City, and is payable when the mortgage is recorded at
the City Register’s Office or, for properties located in Staten Island, Richmond County
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.
FISCAL HISTORY: We’ve updated our tables on New York City revenue, spending, and full-time staffing to include fiscal year 2020. The charts cover four decades of the city’s fiscal history.
TRS' Annual Comprehensive Financial Report is part of the City's overall financial reporting and presents TRS' financial position and the results of TRS operations.
New York City Fire Pension Fund 2019 Comprehensive Annual Financial Report includes combined financial statements and disclosures for the Qualified Pension Plan (QPP), the Firefighters' Variable Supplements Fund and the Fire Officers' Variable Supplements Fund
A report which highlights current economic conditions pertinent to New York City. The report focuses on the state of the U.S. Economy, financial markets, inflation, New York City labor markets and commercial and residential real estate. (November 2019)
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.
This Finance Memorandum generally explains the impact of these federal changes, as well as related changes enacted in the 2018-19 New York State budget, on taxpayers that are subject to the Business Corporation Tax.
This Finance Memorandum contains instructions for reporting GILTI, FDII, and IRC § 965 amounts on New York City General Corporation Tax (“GCT”), Unincorporated Business Tax (“UBT”), and Banking Corporation Tax (“BTX”) 1 returns and attachments.
. Since 2009, DCAS has coordinated with City agencies to benchmark nearly 3,000
public buildings including libraries, police stations, firehouses, schools, colleges,
courthouses, hospitals, community centers and government offices.
Administrative Code of the City of New York, notice is hereby given of the interest rates for underpayments and, where applicable, overpayments of New York City income and excise taxes
The Hotel Room Occupancy Tax must be paid on the occupancy, or the right of occupancy, of a room or rooms in a hotel. A “hotel” is a building or part of it that is regularly used for the lodging of guests.The occupancy tax year is March 1 to the last day of February of the following year.
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.
A report which highlights current economic conditions pertinent to New York City. The report focuses on the state of the U.S. Economy, financial markets, inflation, New York City labor markets and commercial and residential real estate. (August 2019)
The New York City Council passed Local Law 249, requiring the Department of Finance (DOF) to notify property owners
when real estate instruments are recorded on their properties, on November 16, 2017. The law took effect July 1, 2018
On June 24, 2019 the Governor signed into law Chapter 39 of the Laws of 2019. This act amends YTL section 1111-c(e) relating to the monetary penalty imposed upon an owner of a motor vehicle for a violation of a bus lane restriction within a bus rapid transit program.
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
On or before May 1 of each year, The Department of Finance is required to submit an annual report to the New York City Council no later than May 1 detailing the activities of OTA during the preceding year
This document reflects the NYC Community Development Block Grant (CDBG) budget for CFY 2020. CDBG is a funding stream from the U.S. Department of Housing and Urban Development (HUD).
NYC Department of Finance Commissioner Jacques Jiha, Ph.D. Testimony on the FY'20 Preliminary Budget Hearing before the City Council Finance Committee.
First Lady Chirlane McCray, Department for the Aging (DFTA) acting Commissioner Caryn Resnick, and Senior Advisor to the Mayor and head of the Office of ThriveNYC Susan Herman announced today a $1.7 million expansion of mental health services through the ThriveNYC DFTA Geriatric Mental Health Initia
For the first time since 2007, Moody’s Investors Service has upgraded the City of New York’s General Obligation Bond credit rating. The rating was upgraded from Aa2 to Aa1, their second highest rating and equivalent to New York State’s Aa1 rating.
“I welcome Comptroller Scott Stringer’s “hard look” at ThriveNYC. Experts in behavioral health and health policy professionals have recognized Thrive as the most comprehensive mental health plan of any city in the nation. There is far too little understanding out there about mental health conditions
“Working New Yorkers struggle every day to get around our city. We cannot let another year pass without action that makes people’s lives easier. This crisis runs deeper than ever before, and it’s now clear there is no way to address it without congestion pricing and other dedicated revenue streams.
In this latest report we outline the scale of the student loan debt problem; highlight findings from our previous student loan reports; summarize testimony from the hearing; and offer policy recommendations.
A report which highlights current economic conditions pertinent to New York City. The report focuses on the state of the U.S. Economy, financial markets, inflation, New York City labor markets and commercial and residential real estate. (January 2019)
The New York City Rent Freeze program is comprised of the Senior Citizen Rent Increase
Exemption (SCRIE) and the Disability Rent Increase Exemption (DRIE). The program assists lowincome seniors and people with disabilities who reside in rent-regulated apartments or
apartments
The New York City mortgage recording tax (MRT) is an excise tax imposed on the recording of a
mortgage on real property located in New York City, and is payable when the mortgage is recorded at
the City Register’s Office or, for properties located in Staten Island, Richmond County
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.
TRS' Annual Comprehensive Financial Report is part of the City's overall financial reporting and presents TRS' financial position and the results of TRS operations.
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 2018 (June 1, 2017 – May 31, 2018)
returns and CRT collections data from Department of Finance records.
This report, the first produced under a 2017 City Council law that turns to IBO to issue periodic reports on New York City economic development tax expenditures, looks at the efficiency and effectiveness of two programs: Commercial Revitalization & Commercial Expansion.
The report identifies and examines seven factors that are associated with student loan default among New Yorkers, while also highlighting trends across New York City neighborhoods.
Mayor Bill de Blasio signed into law Local Law 11/2015, which requires the NYC Department of
Finance (DOF) to report annually to the City Council on outstanding Environmental Control
Board (ECB)-adjudicated judgement by November 1 each fiscal year
The City of New York’s Comprehensive Annual Financial Report (CAFR) for Fiscal Year 2018. This
report, shows that The City of New York (City) completed its Fiscal Year with a General
Fund surplus, as determined by Generally Accepted Accounting Principles (GAAP), for the 38th consecutive year.
Local Law 249 passed by the City Council on November 16, 2017, which took effect July 1, 2018, requires the New York City Department of Finance (DOF) to send notification of recording of real estate instruments.
A report which highlights current economic conditions pertinent to New York City. The report focuses on the state of the U.S. Economy, financial markets, inflation, New York City labor markets and commercial and residential real estate. (September 2018)
Local Law 7 of 2018 requires HPD to evaluate certain sales of select rent-regulated multiple dwellings for potential inclusion on the Speculation Watch List.
This Memorandum addresses the recognition of income that a taxpayer has deferred pursuant to section 409A of the Internal Revenue Code of 1986, as amended (the “IRC”), and explains how the taxpayer should report the income for UBT purposes.
On or before May 1 of each year, The Department of Finance is required to submit an annual report to the New York City Council no later than May 1 detailing the activities of OTA during the preceding year
Mayor de Blasio announced the appointment of Marianne Spraggins to the New York City Campaign Finance Board, an independent and non-partisan agency that administer campaign finance systems.
This memorandum provides a procedure for withdrawing the commonly owned group election made on a tax year 2015 or 2016 Form NYC-2A, Combined Business Corporation Tax Return.
Mayor de Blasio appeared in front of the senate finance committee to discuss the finances of the City and also testify to the negative effects the new tax law President Trump erected would have on New Yorkers.
Mayor de Blasio addressed the verdict the NY Court of Appeals made on the Water Board, stating that he was pleased that with their ruling hundreds of thousands of NYY families previously excluded from relief programs would be given aid.
The Report’s findings show that although New Yorkers’ delinquency and default rates are slightly lower than the national average, certain NYC neighborhoods are experiencing significantly higher rates of delinquency and default despite the fact that their residents have low average loan balances.
DOF must provide by November 1st of each year a publicly available report on outstanding
judgment debt resulting from notices of violation issued by various City agencies and returnable
to the Environmental Control Board and subsequently referred for collection during the previous
fiscal year.
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
In compliance with Local Law 84 of
2009. Since 2009, DCAS has coordinated with City agencies to benchmark nearly 3,000
public buildings including libraries, police stations, firehouses, schools, colleges,
courthouses, hospitals, community centers and government offices.
The New York City mortgage recording tax (MRT) is an excise tax imposed on the recording of a
mortgage on real property located in New York City, and is payable when the mortgage is recorded at
the City Register’s Office or, for properties located in Staten Island, Richmond County