New York : State Data and Comparisons : Data-Z

New York

TIA Data

2023 Financial State of New York (Released 10/03/2024)

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New York owes more than it owns.

New York has a -$9,700 Taxpayer Burden.™

New York 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 only has $228.7 billion of assets available to pay bills totaling $303.4 billion.

Because New York doesn't have enough money to pay its bills, it has a -$74.7 billion financial hole. To fill it, each New York taxpayer would have to send -$9,700 to the state.

New York's reported net position is understated by $7.2 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.

The state's financial report was released 154 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2022 Financial State of New York

2021 Financial State of New York

2020 Financial State of New York

2019 Financial State of New York

2018 Financial State of New York

2017 Financial State of New York

2016 Financial State of New York

2015 Financial State of New York

2014 Financial State of New York

2013 Financial State of New York