New York City, NY

TIA Data

2020 Financial State of New York City (Released 1/25/2022)

2020 New York City Combined Taxpayer Burden

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

 
New York City's Taxpayer Burden™ is -$71,400, 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 $71.2 billion of assets available to pay bills totaling $275.6 billion.
Because New York City doesn't have enough money to pay its bills, it has a $204.4 billion financial hole. To erase this shortfall, each New York City taxpayer would have to send $71,400 to the city.
New York City's reported net position is understated by $7 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

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, NY

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: Office of the New York City Comptroller

IN THE NEWS
Connecticut Slows the Flow of AGI and Taxpayer Returns in 2020

AUGUST 1, 2022 | by Karen Danford

The state’s net AGI migration improved by nearly $1.4 billion, from around negative $1.6 billion to negative $302 million, in 2020. The IRS’ newly released interstate Adjusted Gross Income migration data show how much wealth states lost or gained between 2019 and 2020. The latest available data is for 2020. Net AGI migration in 2020 is calculated by subtracting AGI inflow from AGI outflow. The change between 2019 and 2020 in net AGI migration takes an individual state’s net AGI migration in 2020 and subtracts it from net AGI in 2019.

When assessing the states whose wealth increased the most between 2019 and 2020 through migration, most follow previous AGI migration trends: Florida, Tennessee, Nevada, and Texas are among the top states for net AGI increase in 2020. Most of these states’ performance has been analyzed by Truth In Accounting: Top and Bottom Net AGI 2020 AnalysisREAD MORE

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