The New York City Department of Finance A Look at the City’s Money Managers

By A.J. Sidransky 2019 October Finance

The New York City Department of Finance (DOF) is the city's revenue service, taxing authority and recorder of deeds. It collects more than $39 billion (yes, with a 'b') per year in revenue, and values more than 1 million properties collectively appraised at more than $988 billion. The department is headed by Jacques Jiha, appointed as commissioner by Mayor Bill De Blasio in April of 2014.

A DOF Snapshot

The Department of Finance is composed of seven different divisions:

The City Registrar

Payments, Audit, and Collections

Parking and Violations

Another Coronavirus Casualty: NYC Property Tax Reform

Momentum to Overhaul 'Confusing & Unfair' Tax System Stalls

Board Presidents Petition for Tax Relief

90-Day Hold Could Avoid a Cash Crunch

Capital Gains and Your Co-op or Condo

Demystifying the Cost-Basis Factor

Tracking Tax Revenue Losses During the Coronavirus Crisis

REBNY Launches New Monthly Report

NYC Leaders Debate Property Tax and Interest Rates

Property Owners Worry as July 1 Tax Payments Loom

Real Estate Tax & Rent Deferment

City Council Considering Two Bills

News

8/7/2020 Leaving New York: How to Choose the Right Suburb—The New York Times

For some New Yorkers, urban life is a phase, to be experienced between college and the birth of a first or second child. The question of moving to the suburbs is not “whether,” so much as “when.”
Read full story

8/7/2020 How to settle property disputes without sawing your neighbor’s garage in half—Bankrate.com

If you own where you live — whether it’s a suburban tract house, a farmhouse on 40 acres in Maine or a studio apartment in a New York City co-op — your home is your castle.
Read full story

8/6/2020 People are renting or buying second homes to use as offices—NY Post

When Felipe Vasconcelos heads to work, he doesn’t have to stay shut inside his one-bedroom Murray Hill condo — and he doesn’t have to commute to his Brooklyn office either. Instead, the 37-year-old takes an elevator six floors down to a 450-square-foot studio apartment, which he rented two weeks ago for $2,100 per month.
Read full story

8/6/2020 Manhattan Lags With Suburban Shift Fueling Region’s Home Sales—BloombergQuint

New York area home shoppers were in a buying mood last month. Everywhere, that is, except Manhattan.
Read full story

8/3/2020 Business leader says wealthy New Yorkers ‘don’t want to come back’ to the city—NY Post

Wealthy New Yorkers who fled the city during the coronavirus crisis “don’t want to come back” — and may be further deterred by talk of rising taxes, an economic watchdog warned Sunday.
Read full story

8/3/2020 The Byzantine Zoning History Of 200 Amsterdam—Commercial Observer

A pair of developers and Upper West Side community activists have been raging a paper crusade against each other over a 670-foot-tall tower that might, as collateral damage, count Department of Buildings guarantees as a casualty.
Read full story

8/3/2020 Daniel Wollman, CEO, Gumley Haft, Takes Action For New York Co-ops And Condos—PR Newswire

As the head of Gumley Haft, a New York property management firm, Daniel Wollman, CEO, is involved in thousands of people's lives. He guides boards of co-ops and condos throughout the city on matters that affect residents of New York apartment buildings. With apartments ranging from over $500,000 to millions of dollars, Wollman's company manages some of the most valuable and prestigious real estate in the country.
Read full story

8/3/2020 Westchester co-ops must say when they reject an applicant. Soon they may have to say why—Rockland/Westchester Journal News

Co-ops have to notify Westchester County when they reject would-be buyers, but they don’t have to say why. That could change under a proposed amendment to Westchester’s fledgling co-op disclosure law, which went into effect in December 2018.
Read full story

8/3/2020 Suburban Homeowners Looking to Downsize Buy in the City—Mansion Global

The pandemic and stay-at-home guidelines stimulated a lifestyle reevaluation for many people. For some, that meant giving up a city home for the fresher air and outdoor space of the suburbs or the country, but, on the other hand, some took this as an opportunity to fulfill the dreams they had long nurtured to downsize from their too-large home and embrace an urban way of life.
Read full story

8/3/2020 The End of Housing as We Know It—The New Republic

The nail salon in Queens where Mariwvey Ramirez works reopened earlier this month, but the customers have been hesitant to return. “I went back to work for three, four days now, and yesterday they tell me that maybe it is going to close because there is no work, no business,” she said when we first spoke. “And what is going to happen … when here in New York the rents are over two thousand dollars?"
Read full story

8/3/2020 As Manhattan Market Slumps, Classic Co-Ops Offer Safety and Stability—Mansion Global

With their notoriously stringent vetting processes, high down payment requirements, and comparative lack of shiny new amenities, New York City’s traditionally tony co-op buildings have fallen out of favor with many luxury buyers in recent years.
Read full story

7/30/2020 This New NYC Co-op Tower by Robert A.M. Stern Has the Guggenheim and Central Park for Neighbors—The Robb Report

When it comes to vertical living in New York City, few architects have as much name recognition as Robert A.M. Stern. His buildings, distinguished for their classic, elegant style and creamy limestone façades, are among the most sought-after in the city. Which is why 1228 Madison Avenue, a boutique residential tower by Robert A.M. Stern Architects (RAMSA), presents such a rare opportunity.
Read full story

7/30/2020 Inside a Park Avenue Co-Op That Playfully Breaks With Convention—Architectural Digest

“I am not formal at all,” said designer Brock Forsblom’s client, who grew up on the Upper East Side. “I have a love affair with Los Angeles and want to get off the elevator and feel like I am in California.”
Read full story

7/30/2020 The Billionaire's Bunker: Inside The Luxury Building Boasting The Country's Priciest Condos—Guest of a Guest

Millions of Americans are looking at evictions and foreclosures in the coming months, but the financial elite are having no problem making record-breaking real estate buys. In the past week alone, three major sales have made headlines at 220 Central Park South, the white-glove residence consisting of an 18-story villa and 79-floor tower overlooking the park.
Read full story

7/30/2020 New York Revises Real Estate Foreclosure Procedures—Lexology

On March 20, Governor Cuomo issued a blanket moratorium on foreclosure by lenders of any residential or commercial property until June 20, 2020. This protection was extended to August 20, 2020 for residential or commercial mortgages owned by someone “that is eligible for unemployment insurance or benefits under state or federal law or otherwise facing financial hardship due to the COVID-19 pandemic.
Read full story

7/28/2020 Making a Move During the Pandemic? Not So Fast—The New York Times

Last summer, Steve and Ellen Resnick followed their daughter and son-in-law from the Harlem condominium where both families lived to a new life in New Jersey. That was the plan, anyway.
Read full story

7/28/2020 Howard Stern remembers neighbor Regis Philbin strutting around in ‘Richard Simmons short-shorts'—Daily News

Regis Philbin wasn’t just a colleague to radio star Howard Stern, he was also a longtime neighbor who made riding the elevator and walking through the lobby a lot more fun.
Read full story

7/28/2020 Permits Filed For 1367 Eastern Parkway In Crown Heights, Brooklyn—NY YIMBY

Permits have been filed for a seven-story residential building at 1367 Eastern Parkway in Crown Heights, Brooklyn. Located between Portal Street and Ralph Avenue, the interior lot is three blocks east of the Utica Avenue subway station, serviced by the 3, 4, and 5 trains. Zalmen Kaufman under the 1367 EP NY LLC is listed as the owner behind the applications.
Read full story

7/27/2020 Coronavirus Shutdown Inspires New Series - The Building: Under Lockdown, Created Entirely on Zoom. Westside Rag and Art Paradise Agree: "The Show is Good!"—IT News Online

The cast is comprised of some of New York’s most beloved stage actors: Pun Bandhu, Joseph Delafield, Laura Esterman, Kevin R. Free, Kathryn Grody, Robert Lupone, Jodie Markell and Alexandra Napier. The characters are a group of iconographic New York personalities living in their Riverside Drive apartment building. With the appearance of COVID-19, they have to navigate their new shut-down world and the complications it presents – while juggling the ongoing fights, feuds and intrigues of their neighbors.
Read full story

7/27/2020 New Developments Throw in Free Parking Spaces, Years of Maintenance Fees as Sales Concessions—Mansion Global

For the past several months, wealthy buyers in search of safety and personal space have flocked to vacation and single-family home markets across the country, leaving some new condo developments out in the cold.
Read full story

Show more news

Recent Articles

As Families Flee, Empty Nesters Enter

Holding Steady

Expanding the Virtual Tour

New Tools for Housing Equality

Q&A: How to Fire a Super