Revenue Implications of New York City’s Tax System - FEDERAL RESERVE BANK of NEW YORK

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Second District Highlights

Revenue Implications of New York City’s Tax System

April 2004 Volume 10, Number 4

JEL classification: H2, H7, R5

Authors: Jesse Edgerton, Andrew F. Haughwout and Rae Rosen

A study of New York City’s tax system finds that over the past three decades, the system has become less reliant on property and general sales taxes and more dependent on corporate and personal income taxes. This shift has made the city’s tax revenues less stable than the revenues of the 1970s and more sensitive to cyclical swings.

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7 pages / 167 kb

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