City government · New York City, NY
New York City's money: where it comes from and where it goes
In the latest recorded fiscal year (ended June 30, 2024), New York City took in $127.9 billion and spent $154.1 billion.
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Where it comes from
What stands out
12%
of New York City's money comes from a personal income tax.Most U.S. cities of 50,000+ people get none.
City taxes57%
Property tax
26%$33.0 billion
Individual income tax
12%$15.6 billion
Sales tax
7.8%$9.96 billion
Business income tax
7.6%$9.68 billion
Other taxes
3.3%$4.21 billion
What's in other taxesReal estate and stock transfer taxes; other selective sales taxes and 9 more
- Real estate and stock transfer taxes$1.73 billion
- Other selective sales taxes$994 million
- Other licenses$717 million
- Public utility taxes$575 million
- Motor vehicle licenses$97.0 million
- Occupation and business licenses$49.3 million
- Alcoholic beverage taxes$23.2 million
- Tobacco taxes$13.3 million
- Alcoholic beverage licenses$5.2 million
- Pari-mutuel (betting) taxes$397 thousand
- Amusement taxes$15 thousand
Amounts are by Census tax category.
Tourism taxes
0.6%$713 million
Hotel occupancy tax $713 million.
Fees for services13%
Fees for services
13%$17.2 billion
What's in fees for servicesHospital bills; transit fares and 13 more
- Hospital bills$4.66 billion
- Transit fares$3.54 billion
- Sewer$2.54 billion
- Tolls on roads and bridges$2.45 billion
- Water$1.59 billion
- Housing$1.13 billion
- Other service charges$604 million
- Parking$280 million
- College tuition$179 million
- Parks and recreation$101 million
- Other government-run businesses$40.3 million
- Other school charges$35.4 million
- Garbage collection$19.0 million
- Road charges$3.9 million
- University housing and dining$131 thousand
Amounts are by Census type of charge.
Federal tax money8.9%
Grants from Washington, paid for by the federal taxes residents also pay.
From the federal government
8.9%$11.4 billion
State tax money15%
Money the state passes on, paid for by the state taxes residents also pay.
From the state
15%$18.9 billion
County and local tax money1.0%
Money passed on by the county or other local governments.
From the county and other local governments
1.0%$1.28 billion
Fines and other4.6%
Interest, rents and other
3.5%$4.52 billion
Fines
1.1%$1.37 billion
Where it goes
What stands out
26%
of New York City's spending goes to schools and colleges.Most U.S. cities of 50,000+ people spend nothing on this.
Spending by category100%
Schools and colleges
26%$40.8 billion
What's in schools and collegesElementary and secondary schools; colleges and universities and 2 more
- Elementary and secondary schools$39.2 billion
- Colleges and universities$1.45 billion
- Scholarships and other education subsidies$142 million
- College housing, dining and bookstores$14.0 million
Running the government and other costs
16%$25.2 billion
What's in running the government and other costsOther and not broken out; finance, tax collection and budgeting and 3 more
- Other and not broken out$14.2 billion
- Finance, tax collection and budgeting$9.81 billion
- Government buildings$776 million
- Central staff services (personnel, purchasing, technology)$418 million
- Other government-run businesses$47.7 million
Roads, transit and parking
11%$16.8 billion
What's in roads, transit and parkingPublic transit; roads and highways and 2 more
- Public transit$15.6 billion
- Roads and highways$609 million
- Toll roads and bridges$549 million
- Parking$77.2 million
Health and hospitals
8.6%$13.2 billion
What's in health and hospitalsHospitals and public health
- Hospitals$10.8 billion
- Public health$2.42 billion
Police, fire, courts and jails
8.3%$12.7 billion
What's in police, fire, courts and jailsPolice; fire protection and 4 more
- Police$6.60 billion
- Fire protection$2.83 billion
- Courts and legal services$1.55 billion
- Prisons and jails$1.38 billion
- Inspections and regulation$282 million
- Probation, parole and other corrections$94.6 million
Social services
6.9%$10.7 billion
What's in social servicesOther public welfare
- Other public welfare$10.7 billion
Housing and community development
5.9%$9.15 billion
Interest on debt
5.8%$8.91 billion
What's in interest on debtInterest on general debt; interest on water supply debt and 1 more
- Interest on general debt$7.71 billion
- Interest on water supply debt$1.18 billion
- Interest on public transit debt$26.9 million
Sent to other local governments
5.1%$7.93 billion
What's in sent to other local governmentsSent to the state government and sent to local governments: other and not broken out
- Sent to the state government$7.89 billion
- Sent to local governments: other and not broken out$37.9 million
Water, sewer, trash and utilities
4.2%$6.40 billion
What's in water, sewer, trash and utilitiesSewer systems; garbage and solid waste and 1 more
- Sewer systems$3.22 billion
- Garbage and solid waste$2.19 billion
- Water supply$990 million
Parks, recreation and libraries
1.4%$2.23 billion
What's in parks, recreation and librariesParks and recreation and libraries
- Parks and recreation$1.60 billion
- Libraries$631 million
Sources and moreWhere these numbers come from and what they cover
New York City. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended June 30, 2024.
What this covers. The money of New York City itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.