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 is also responsible for maintaining the official tax maps of New York City and collects Real Property Transfer and Mortgage Recording Taxes when documents are submitted for recording.
Payments, Audit and Collections
Finance 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, Finance 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.
Parking & Vehicles
Drivers can pay or contest their parking tickets or summonses at Finance. 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.
Property Tax and Exemptions
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. Finance 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, Finance employees calculate, bill and collect property taxes and other property related charges. When property taxes or other charges remain unpaid, Finance staff administers a property tax lien sale to collect unpaid taxes.
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 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.
Other Offices at Finance
Mayor’s Office of Pensions and Investments
The Mayor's Office of Pensions and Investments is located at the Department of Finance. It represents the Mayor at the City's five pension systems, which have approximately $130 billion in assets and work to provide retirement security to over 700,000 current and retired City employees. This office focuses on improving long-term, risk-adjusted returns by advocating for investment-policy and governance enhancements, in addition to ensuring that applicants for disability pensions meet the statutory standards, 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.