New York City Mayor Eric Adams signs legislation to provide a one-time property tax rebate of up to $150 to hundreds of thousands of eligible New York homeowners.
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.
The Hotel Room Occupancy Tax must be paid on the occupancy, or the right of occupancy, of a room or rooms in a hotel. Hotel Room Occupancy Tax is separate from the NYC Sales Tax on hotel room occupancy and is charged in addition to the Sales Tax.
The seventh annual report of the Office of the Taxpayer Advocate (OTA), an office established in 2015 by the Department of Finance (DOF) to assist customers and recommends improvements to the agency’s policies and procedures.
This report presents statistical information for Tax Year 2018 for three New York City business income taxes: The Business Corporation Tax (COR), the General Corporation Tax (GCT), and the Unincorporated Business Tax (UBT).
New York City Mayor Eric Adams is joined by elected officials and community leaders to celebrate the enhancement of the Earned Income Tax Credit (EITC) in the state budget.
Included in its Preliminary Budget, the Adams Administration proposed 3 tax programs: one to enhance the value of city’s EITC, which increases the value of wages and salaries for low- and moderate-income tax filer; as well as 2 tax breaks to incentivize the development of childcare programs in NYC
New York City’s current property tax system is notoriously opaque, unfair, and regressive. For the past four decades, rather than dealing with its structural flaws, New York State has layered on a patchwork of exemptions and abatements to lower tax rates for various owners.
New York City Mayor Eric Adams today was joined by elected officials and community leaders at Union Settlement in East Harlem to applaud New York state’s early efforts to make significant investments in New York City’s social safety net in the Fiscal Year 2023 (FY 23) budget
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, 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 New York City Advisory Commission on Property Tax Reform today released its final report with recommendations to create a simpler, clearer and fairer property tax system.
This report is submitted as required by Section 168.f of the New York City Charter. The New York City Tax Appeals Tribunal has jurisdiction over petitions filed by taxpayers protesting statutory notices issued by the Department of Finance for all non-property income.
New York City By the Numbers: IBO has updated the fiscal history section of our website with new data on New Yorkers’ income and personal income tax liability. The new data, the most recent available, covers the 2019 tax year. See some highlights from our updated tables.
With manufacturing jobs in New York City declining, the New York City Industrial Development Agency, under the Giuliani Administration, created the Industrial Program in 1995. This report looks at the evolution and effectiveness of the program.
Due to a change to the Child Tax Credit, families can get half of the fully refundable credit—worth up to $3,600 per child—as advance monthly payments in 2021 and the other half as a refund in 2022.