NYC Independent Budget Office
Yikes! Report Paints Really Glum Fiscal Picture Courtesy of Wall Street, Real Estate
The city’s Independent Budget Office is predicting city tax revenues from real estate sales will drop by almost one-third this fiscal year (July ’07 to June ’08). Real property transfer tax and the mortgage recording tax provide a barometer of the health of the real estate market—the city saw an all-time high $3.3 billion between the two taxes in FY 2007—as a slice of every transaction and mortgage comes into city coffers. read more »
Events for December 5, 2006
Council Member Mike McMahon announces funding for City Harvest to provide produce to residents at the Stapleton Houses in Staten Island.
The New York City Board of Health meets to discuss the trans fat ban proposal and dog leash rules in parks.
Eliot Spitzer meets with Andrew Cuomo to discuss transitioning at the Attorney General's Office.
Colin Powell and the CEO of New York Life discuss contributing towards the expansion of the Colin Powell Center for Policy Studies at City College at the City College of New York.
A coalition of business, government, transportation, labor and community groups oppose congestion pricing schemes at a press conference on the steps of City Hall.
Global Witness and Amnesty International hold a press briefing on blood diamonds at the Open Society Institute.
—Nicole Brydson
