The City Register records and maintains all official documents related to real estate, including deeds, mortgages and leases, and has offices in every borough except for Staten Island, where the Office of the County Clerk provides these functions. All of the City Register’s records back to 1966 are maintained online in the Automated City Register Information System (ACRIS). The City Register Division also collects Real Property Transfer and Mortgage Recording Taxes when documents are submitted for recording.
The Department of Finance (DOF) employees bill and collect property tax, business taxes and excise taxes. The State administers the City’s income tax and sales tax. Payments can be made online, by mail or in person at Finance Business Centers. For all taxes except property taxes, DOF auditors monitor tax payments to ensure under-payments or non-payments do not occur. Unpaid taxes or other debt owed to the City are collected by Finance employees through letters, phone calls, court actions and other enforcement efforts.
Drivers can pay or contest their parking tickets or summonses at DOF. We accept payments and hold hearings online, by mail and in person in all five boroughs in the Finance Business Centers. In addition, judges hear appeals of parking ticket determinations. The Parking Adjudications Division includes a special unit for Commercial Adjudications, which conducts hearings and appeals on tickets issued to commercial vehicles.
The Department of Finance values all property in the City, more than one million parcels, each year to produce the Assessment Roll. The City’s property tax rates are applied to a property’s assessed value to calculate property taxes. DOF also administers exemption and abatement programs that can lower property owners’ tax liability. After the City’s property tax rates are set each year by the Mayor and City Council, DOF employees calculate, bill and collect property taxes and other property related charges. When property taxes or other charges remain unpaid, DOF staff administers a property tax lien sale to collect unpaid taxes. In addition to administering property taxes, the Department of Finance also maintains the official tax maps of New York City.
As the chief civil enforcement agency for the New York State Court System, the Office of the Sheriff enforces mandates, orders, warrants and decrees for the Courts. Enforcement tools include evictions, seizure of property, and the towing and booting of vehicles for unpaid judgment debt. Employees also conduct tax fraud investigations with a special focus on enforcement of cigarette tax regulations, enforce NYC traffic regulations, and conduct auctions for property they seize.
The Department of Finance’s Tax Policy and Data Analytics Division reviews, analyzes, and evaluates existing and proposed tax policies. The division mines business, property, and income tax data for policy modeling, revenue forecasting, and audit selection, and also publishes a variety of statistical reports. The division also provides data analytic consulting services to other areas of the Department of Finance.
The Treasury Division administers the City's network of bank accounts and manages the City’s cash flow. Treasury employees ensure that City funds are deposited only in approved banks with appropriate collateral and manage the City’s banking relationships. In addition, the Treasury Division holds all cash bail and court-ordered funds in trust until the funds are directed by the courts to be released.
The Mayor’s Office of Pensions and Investments (MOPI) is located within the Department of Finance. MOPI represents the mayor with the City’s five pension systems, which have approximately $270 billion in assets, and the New York City Deferred Compensation Plan, with $28 billion in assets. These entities work to provide retirement security to over 700,000 current and retired City employees.
MOPI focuses on improving long-term, risk-adjusted returns by advocating for investment policy and governance enhancements; ensuring that applicants for disability pensions meet the statutory standards; ensuring that proper safeguards are in place to monitor the continuing eligibility of disability pensioners; and increasing the operational efficiency of the City pension funds.
The Banking Commission has three primary responsibilities. First, each year the Banking Commission recommends interest rates to the City Council for late payments of property taxes and water and sewer rents, as well as discount rates for early payments of property taxes. Second, the Banking Commission reviews and approves or denies applications from banks or trust companies to hold City monies by being named New York City Designated Banks. Finally, the Banking Commission participates in the New York State Banking Development District (BDD) Program and approves deposits of City funds in BDD branches.