Published in
The Empire

NYC Comptroller says NYC missed $3.3 in taxes

As NYC is seeking many millions from Albany, it's ignoring some millions from its tax base.

City Comptroller John Liu said $2,569,740 in uncollected taxes were missed by the city's Department of Finance, due to "flaws in recording payments."

The money is "sorely needed in the fact of looming budget cuts," says Liu. He also noted the Department of Finance wasn't entirely helpful during this audit.They "handed over limited information" and spent $575,000 "to hire an outside consultant" to do a "similar" review as Liu was conducted of the agency.

An additional $785,730 went uncollected because the city did not return to the tax rolls 19 businesses that participated in the Payment in Lieu of Taxes program.

While it's true the city is looking in every corner for money - the $3.3 million Liu found palls in comparison to the more than $2 billion Mayor Bloomberg says the city needs to make up for cuts heading their way from Albany.