Tax bills show how much Covid devalued NYC real estate

by | Jun 15, 2021 | 1 comment

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The pandemic hit the commercial real estate market hard. Property tax bills now reveal just how hard.

New York City expects property tax revenue to drop by $1.6 billion, or 5 percent, in the coming fiscal year, Bloomberg News reported. That’s the biggest drop in the city’s largest source of revenue since the early 1990s.

 

1 Comment

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