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Assessments & Revenue: Explaining the Unusual Swings in Property Tax Revenues for 2022 and 2023

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Anticipating a reduction in rental income, NYC sharply reduced the assessments used to calculate ‘22 tax bills. These reductions turned out to be an overestimate & the ’23 tax roll now reflects this as projected growth. IBO examines the reason for the change.

Sub title
  • Focus On: The Preliminary Budget
Report type
  • Reports - Other (Consultant/Staff)
Date published
  • 2022-04-01
Calendar year
  • 2022
Required Report Name
  • Not Required