New York City, NY

TIA Data

2018 New York City Combined Taxpayer Burden (Released 5/12/2020)

2018 Financial State of New York City (Released 1/24/2020)

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New York City's Taxpayer Burden™ is -$63,100, and it received an "F" from TIA.
New York City is a Sinkhole City without enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.
New York City only has $62.7 billion of assets available to pay bills totaling $249.4 billion.
Because New York City doesn't have enough money to pay its bills, it has a $186.7 billion financial hole. To erase this shortfall, each New York City taxpayer would have to send $63,100 to the city.
New York City's reported net position is understated by $11 billion, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city'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

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 Comprehensive Annual Financial Reports

Publishing Entity: City Comptroller's Office

Public employee pensions under attack

JULY 6, 2020 | LABORPRESS.ORG | by Jay Warshofsky

New York public servants are members of one of the eight public employee pension systems in the State and City.  Approximately 700,000 active employees are contributing to their future pensions. Approximately 500,000 members and survivors collect Defined Benefits Pensions. We are protected by the NYS constitution