Coronavirus will cost city billions in tax revenue: comptroller

New York City could lose up to $6 billion in tax revenue thanks to the coronavirus pandemic, according to a new report from the comptroller’s office. The losses in fiscal years 2020 and 2021 will be between $4.8 billion and $6 billion, depending on the length and severity of the pandemic and subsequent economic shutdown, New York City Comptroller Scott Stringer’s office estimated. The comptroller’s office previously estimated that the city could see a $3.2

source https://therealdeal.com/2020/03/23/coronavirus-will-cost-city-billions-in-tax-revenue-comptroller/