New York City : State Data and Comparisons : Data-Z

New York City, NY

TIA Data

2022 Financial State of New York City (Released 1/15/2024)

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New York City owes more than it owns.

New York City's Taxpayer Burden™ is -$61,800, 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 $90.6 billion of assets available to pay bills totaling $268.2 billion.

Because New York City doesn't have enough money to pay its bills, it has a -$177.6 billion financial hole. To erase this shortfall, each New York City taxpayer would have to send -$61,800 to the city.

New York City's reported net position is understated by $22.4 billion, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.

The city's financial report was released 119 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2021 New York City Combined Taxpayer Burden

2021 Financial State of New York City

2020 New York City Combined Taxpayer Burden

2020 Financial State of New York City

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