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New York City Tax Revenues Do an About Face

New York City tax revenues grew 8.1% in FY 2018, a turnaround from FY 2017 when the city posted the lowest tax revenue growth since FY10.

New York City Comptroller Scott M. Stringer New York City Comptroller Scott M. Stringer

NEW YORK CITY—A strong New York City economy and federal tax reform helped fuel a dramatic increase in tax revenues in Fiscal Year 2018, according to the city’s Comprehensive Annual Financial Report for FY 2018 released by New York City Comptroller Scott M. Stringer.

The report notes that the city added 76,600 jobs during FY 2018, an increase of 7,000 jobs as compared to FY 2017 when the city added 69,600 new positions. The strong jobs market helped lower the city’s unemployment rate to its lowest on record at 4.3%.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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