Results tagged “cityrevenue”

Since the city's tax revenue has plummeted, with the stock market and the fortunes of Wall Street, the Staten Island Advance notices, "The city plans to collect a record $900 million in fines during the upcoming fiscal year, which begins next week, according to budget estimates," thanks to fines like "A $25 fine from Sanitation for failing to comply with the city's recycling regulations. A $250 summons from Parks for not stopping to 'scoop the poop' from your pet. A $200 fine from Consumer Affairs for leaving your shop store open while the air conditioning is running, and a $250 ticket from a traffic agent for leaving your engine running while you run into that store." Restaurant violations are up from $27 million last year to $38 million this coming budget year, but the big money maker is parking fines, which may rack up $600 million this year. Sari Kingsley, a recent victim of the ticket blitz, said she got her ticket minutes after parking outside her office, with the traffic agent claiming it had been there for over two hours; Kingsley said, "It's beyond just enforcement. It's harassment."

Yet another reason to feel some gloom and doom about the city's budget: $804 million in business tax refunds! The NY Times reports that since companies overpaid their taxes (they estimate based on the previous year's earnings, which were much more flush than now), the city refunded a big chunk of money that's "three times the amount typically returned." The article also mentions: "The surge in refunds is already contributing to a new $285 million shortfall in the current year’s budget, thus making it imperative, city officials say, to cut programs and raise taxes even earlier than anticipated." Better buckle up.