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Real Estate Makes Up Larger Share Of NYC’s Tax Revenue Even Amid Value Reset

Real estate taxes have steadily become a larger and larger part of New York tax collections over the last eight years as the city faces a fiscal crisis.

In the financial year ending 2021, real estate-related taxes made up 54.1% of tax collections, up from an average of 51.9% between 2015 and 2018, according to a new report from the Real Estate Board of New York.


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