NYC Faces Record $880M in Unpaid Property Taxes Amid Enforcement Challenges
The surge in delinquent property taxes in New York City is attributed to the expiration of a tax-lien sales program, leaving the city without a mechanism to penalize non-payment.
- Unpaid property taxes in New York City are projected to hit a record $880 million by the end of June, a more than 30% increase from three years ago.
- The increase in delinquencies is linked to the expiration of a pandemic-era tax-lien sales program that enforced penalties for late payments.
- New York Attorney General Letitia James has criticized the previous program for potentially leading homeowners into foreclosure.
- The city's finance department is working on legislation to reintroduce a form of property tax enforcement, aiming for a more equitable solution.
- High vacancy rates in Manhattan office spaces and challenges in the rental market further exacerbate the city's financial strain.
Washington Examiner 
New York Post 