New York City Releases Fiscal 2020 Popular Annual Financial Report

The New York City comptroller released the popular annual financial report for fiscal 2020, reporting that general revenues for the fiscal year were over $63.6 billion, an increase of more than $400 million from fiscal 2019, largely due to growth in real estate tax collections, which totaled over $29.6 billion, as well as personal income tax receipts, which were $13.7 billion; sales tax revenues and mortgage tax collections both decreased because of the significant economic effects of COVID-19.