Truth in Accounting

New York City, NY

 

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Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states

 
New York City owes more than it owns.
New York City has a -$61,700 Taxpayer Burden.™
New York City is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
New York City only has $95.7 billion of assets available to pay bills totaling $280.3 billion.
Because New York City doesn't have enough money to pay its bills, it has a -$184.6 billion financial hole. To fill it, each New York City taxpayer would have to send -$61,700 to the state.
New York City's reported net position is understated by $19.8 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.
The state's financial report was released 122 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2023 Financial State of New York City

2022 Financial State of New York City

2021 New York City Combined Taxpayer Burden

2021 Financial State of New York City

2020 New York City Combined Taxpayer Burden

2020 Financial State of New York City

2019 New York City Combined Taxpayer Burden

2019 Financial State of New York City

2018 New York City Combined Taxpayer Burden

2018 Financial State of New York City

2017 New York City Combined Taxpayer Burden

2017 Financial State of New York City

2016 New York City Combined Taxpayer Burden

2016 Financial State of New York City

2015 Financial State of New York City

2014 Financial State of New York City

 

Other Resources

New York City Annual Comprehensive Financial Reports

Publishing Entity: Office of the New York City Comptroller
IN THE NEWS
Financial State of the Cities 2026

FEBRUARY 5, 2026

The report examines the fiscal health of America’s five largest cities–Los Angeles, Houston, Philadelphia, Chicago, and New York City. 

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