Expert observers and former transit officials say the MTA and the city are using too many “sticks” and not enough “carrots” in their rollout of the pioneering tolling system set to launch next year.
Now that public budgets have been settled, it’s clear they rest on risky assumptions for following years.
Remote work, a possible recession and higher interest rates spell big trouble for office buildings and tax revenue. One bright spot emerges.
Gov. Kathy Hochul outlines a $229 billion spending plan that leaves many questions unanswered — but helps New York City, from NYCHA to the MTA.
Despite headlines of layoffs and plummeting profits, $33.7 billion given out in 2022 bonuses reflects a modest decline and growing workforce.
Proponents of a state bill already killed three times are still trying to pass measures to shield drivers from surprise fees and collection agency harassment.
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.
Independent Budget Office finds 10% fewer tax filers earned above $750K in the pandemic’s first year.
Permits for more than 58,000 apartments show rush to secure lucrative 421-a benefit ahead of state law’s June expiration.
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.
The Manhattan District Attorney’s Office contends six developers ‘fraudulently obtained’ more than $1 million in tax credits aimed at boosting affordable housing.
Mayor reports taxable income on the Bed-Stuy rowhouse he declared his residence, after years of fuzzy and questionable deductions.
Can NYC Live Without Its $1.7-Billion-a-Year Developer Tax Break? Dueling Claims Define Budget Talks
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.
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.
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?
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.
The online search giant, which announced plans Tuesday to open a massive Manhattan headquarters, is forgoing the benefits Amazon sought to reap for its ill-fated Long Island City headquarters, THE CITY has learned.
Mayoral nominee admits he failed to tell the IRS he lived in the Bed-Stuy townhouse he claims as a residence — a move that may have enabled him to take bigger deductions. His campaign says he’ll refile his returns, again.
As the new governor begins to put her own imprint on the state’s finances, she’ll have to make a series of decisions that show whether she is prepared to make a sharp break with the policies — and appointees — of the previous administration.
The governor arrived in office in 2011 with an agenda aimed at bolstering New York State. Some of his promises — from marriage equality to minimum wage to supportive housing and more — came to fruition, while others remain outstanding.
In case you missed it
- Tow Truck Guy Charged With Bribing Adams Aide Prevailed on City Hall to Cancel Rival’s License
- The 7 Ideas in Mayor Adams’ Housing Plan, and How It Gets Built
- How to Keep Tabs on COVID Through Wastewater Testing in NYC
- With COVID Surging, Here’s What You Need to Know About Tests, Treatments and Vaccines
- No Discipline Recommended for Cops in Killing of Kawaski Trawick
LOCAL NEWS POWERED BY NEW YORKERS.
We cover the uncovered, hold the powerful accountable, and make sense of the greatest city in the world.