Mayor Mamdani Appoints Richard Lee as Commissioner of the Department of Finance

NEW YORK — Today, Mayor Zohran Kwame Mamdani announced the appointment of Richard Lee as the Commissioner of the Department of Finance (DOF).

DOF administers the City’s tax laws and collects the revenue that makes every essential City service possible. The agency collects more than $50 billion annually and values more than one million properties with a total market value exceeding $1.5 trillion. DOF also manages the City’s $10 billion treasury and plays a critical advisory role to the municipal pension systems and deferred compensation plan. 

“The Department of Finance plays an essential role in keeping our city running. New Yorkers are able to send their kids to public school, visit our parks and have their trash picked up because of the revenues DOF collects,” said Mayor Zohran Kwame Mamdani. “Even as New York City faces a serious fiscal crisis, my Administration will never sacrifice the essential services New Yorkers depend on. That’s why I’m proud to appoint Richard Lee as our next Commissioner of the Department of Finance. His command of the City’s budgeting process makes him uniquely qualified to lead the Agency and ensure that our City continues meeting New Yorkers’ needs.”

“It is an honor to continue my lifelong commitment to New Yorkers by joining Mayor Mamdani’s administration as the next Department of Finance Commissioner,” said Commissioner Richard Lee. "Especially in the midst of an affordability crisis, New Yorkers are looking to their city government to ensure that they can remain here, in the city they love, to raise their families and build their legacies. We can work together to ensure that the City’s finances equitably serve the New Yorkers who make this city run: working people, immigrants, small business owners, and communities across our city. As a lifelong New Yorker and son of immigrants, I am thrilled to lead the Department of Finance into this new era, one of opportunity and dignity for all New Yorkers."

A dedicated public servant, Lee is an expert in the municipal budget process, who applied to his position through the City's job portal. Most recently, he served as Director of the New York City Council’s Finance Division, which provides Council Members with analysis of budgetary actions and their fiscal impact. The Division also works with Council Members to monitor and evaluate agency spending.

Previously, Lee served as Budget Director for the Queens Borough President, overseeing all aspects of the office’s budget process, including development of its expense and capital budgets. Before that, he was Director of Budget and Legislative Affairs for then-Council Member Leroy Comrie, overseeing the budget process for the Council Member and the Council’s Queens Delegation.

Lee began his career in public service at Asian Americans for Equality, where he directed policy and community advocacy. He received his B.S. in Public Policy and Management from Carnegie Mellon University, and his M.P.A. in Public Policy from NYU’s Wagner Graduate School of Public Service. A Queens native, Lee and his family live in Flushing.

"I’m proud to congratulate my friend Richard Lee for being appointed as New York City’s next Commissioner of the Department of Finance,” said U.S. Rep. Grace Meng (D-Queens). “As the top budget advisor to the City Council over the past three years, he brings important and needed experience to the position and will work tirelessly for New Yorkers. I’m also thrilled to have a resident of Queens serving in this critical role. I wish him all the best in his new position and look forward to working with him."

"The appointment of Richard Lee as the new Commissioner of the Department of Finance is a win for all New Yorkers," said City Council Speaker Emerita, Adrienne Adams. "As a lifelong New Yorker and public servant, Richard has dedicated his career to shaping our city into a more equitable place for all to call home. The city budget is a reflection of our values, and under Richard's steady and thoughtful leadership, we succeeded in safeguarding the pillars of our city: libraries, cultural institutions, and public parks, ensuring their full funding. Throughout multiple budget cycles, Richard demonstrated a rare talent in finding creative solutions to longstanding issues. New Yorkers across all five boroughs stand to benefit from Richard's advocacy and proven leadership in city government."

“I proudly congratulate Richard Lee on his appointment as Commissioner of the NYC Department of Finance,” said State Senator Leroy Comrie. “His dedication and proven leadership will be invaluable to our city. I was proud to work with Richard as budget director in my office at the City Council, and when I served as Deputy Borough President of Queens. Richard's integrity, expertise, and commitment to public service make him exceptionally well-suited for this role. I look forward to working together to strengthen our city’s financial future.”

“Richard Lee is a talented and dedicated public servant with years of experience dealing with the ins and outs and sometimes sideways mechanics of government finance,” said State Senator John Liu. “With a projected budget shortfall and constant fiscal uncertainty from the Trump White House, we can be fully confident that Richard will bring the battle-tested leadership needed to lead the Department of Finance and fund the essential services that keep our city running smoothly.”

“We are thrilled that Richard Lee will be our city’s next Commissioner of the Department of Finance. He is smart, dedicated and understands how critical it is for our government to deliver on behalf of its residents and taxpayers,” said Christie Peale, CEO and Executive Director of the Center for NYC Neighborhoods. “From his years working with Asian Americans for Equality to his time in Southeast Queens, Queens Borough Hall and leading Council Finance, he has a deep understanding of the needs of our communities and how to partner to get results. Richard is absolutely the right choice to realize the Mayor's vision of excellence in government at the Department of Finance and we look forward to working with him.”

“Richard Lee is exceptionally well-positioned to lead the Department of Finance,” said Deyanira Del Rio, Executive Director of the New Economy Project. “As Director of the City Council Finance Division, he has been a strong partner to the community land trust (CLT) movement—helping to advance meaningful reforms to the city’s tax lien sale and overseeing a citywide initiative to expand CLTs and community-led housing and neighborhood development. The Department of Finance plays a critical role in how our City manages its finances—from shaping housing stability and affordability through the property tax system to managing how public funds are held and deployed through the City’s banking relationships. We look forward to continuing to work together to advance racial and economic justice for all New Yorkers.”

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