Taxes

Budget

Yankee Stadium Parking Company Payments Owed to City Climb to $162M

Dec. 21, 2022, 5:03 a.m.Dec. 21, 2022, 11:04 a.m.

A Bronx parking deal on city-owned land since 2010 has failed to yield city taxpayers a single dime, while the bill owed continues to grow — by $17 million in 2021 alone.

Economy

Escape From New York? City Tax Data Shows 2020 Drop in High Earners

Dec. 6, 2022, 7:25 p.m.Dec. 6, 2022, 7:25 p.m.

Independent Budget Office finds 10% fewer tax filers earned above $750K in the pandemic’s first year.

Taxes

Building Permits Soared Before Developer Tax Break Expired, New Numbers Show

Nov. 10, 2022, 6:25 p.m.Nov. 10, 2022, 6:25 p.m.

Permits for more than 58,000 apartments show rush to secure lucrative 421-a benefit ahead of state law’s June expiration.

The facade of the New York Stock Exchange on Wall Street.

Economy

More Finance Jobs Leave Wall Street, Lured Elsewhere by Tax Breaks and Lower Costs

Oct. 25, 2022, 5:21 p.m.Oct. 26, 2022, 10:36 a.m.

New York City’s share of U.S. securities industry jobs is now less than one in five, says state Comptroller Tom DiNapoli, down from one in three in the 2000s.

Taxes

Prosecutors Allege Bushwick Developers Cashed In on Tax Breaks While Overcharging Tenants

Oct. 19, 2022, 12:58 p.m.Oct. 19, 2022, 4:54 p.m.

The Manhattan District Attorney’s Office contends six developers ‘fraudulently obtained’ more than $1 million in tax credits aimed at boosting affordable housing.

Eric Adams

Eric Adams Taxes Show Rental Income, in Reversal From Past Claims

Oct. 14, 2022, 10:00 a.m.Oct. 14, 2022, 2:54 p.m.

Mayor reports taxable income on the Bed-Stuy rowhouse he declared his residence, after years of fuzzy and questionable deductions.

Albany

Can NYC Live Without Its $1.7-Billion-a-Year Developer Tax Break? Dueling Claims Define Budget Talks

March 16, 2022, 10:05 p.m.March 17, 2022, 1:24 p.m.

Budget watchdog warns letting the 421-a program lapse will doom needed new housing development, while city comptroller urges cancellation along with a property tax overhaul.

Housing

Progressives and Hochul Battle Over Fate of $1.7B Developer Tax Break

Feb. 1, 2022, 6:00 p.m.Feb. 2, 2022, 5:55 a.m.

Real estate industry says renewing the 421-a program is essential to ensuring housing development, including affordable apartments, and have the governor on their side. But some city and Albany leaders say it should not survive.

Housing

Tax Lien Sales Tick Toward Expiration Date Without Alternative in Sight

Jan. 27, 2022, 8:59 a.m.Jan. 27, 2022, 10:22 a.m.

Mayor and Council Speaker Adams both vowed to end the program that sells property owners’ uncollected tax and water debts to private investors. Now what?

Economy

Wall Street Booms Even Amid Concerns That Jobs May Go Bust in New York

Oct. 21, 2021, 4:56 p.m.Oct. 22, 2021, 4:22 p.m.

Stock market profits are headed for a record high, meaning big tax revenues for New York. But the city stands to lose 5,000 high-paying finance jobs to other states as the local unemployment rate hits twice the national average.

Taxes

Yankee Stadium Parking Company Payments Owed to City Climb to $162M

Escape From New York? City Tax Data Shows 2020 Drop in High Earners

Building Permits Soared Before Developer Tax Break Expired, New Numbers Show

More Finance Jobs Leave Wall Street, Lured Elsewhere by Tax Breaks and Lower Costs

Prosecutors Allege Bushwick Developers Cashed In on Tax Breaks While Overcharging Tenants

Eric Adams Taxes Show Rental Income, in Reversal From Past Claims

Can NYC Live Without Its $1.7-Billion-a-Year Developer Tax Break? Dueling Claims Define Budget Talks

Progressives and Hochul Battle Over Fate of $1.7B Developer Tax Break

Tax Lien Sales Tick Toward Expiration Date Without Alternative in Sight

Wall Street Booms Even Amid Concerns That Jobs May Go Bust in New York

ABOUT

TEAM

FUNDERS

ETHICS

DIVERSITY

DONATE

REPUBLISH

CAREERS

THE CITY IS HERE FOR YOU. BE HERE FOR US TOO.

THE CITY's Spring Campaign

Before you go...

for all things NYC.

local news today!