Eric Adams’ First Budget Is Almost Here
This article was originally published on by THE CITY.
With Mayor Eric Adams scheduled to present his first budget this week, a surprisingly strong rebound in property values has given him a gift of as much as $1 billion in unexpected tax dollars to help him weather the end of federal pandemic aid.
That’s based on his tax collectors’ assessment that New York City real estate is worth $1.4 trillion all told — 2% higher than before COVID struck.