New York City Mayor Eric Adams claims richest 2 percent in NYC contribute 51% of city taxes. That true, for one tax category.
Personal income taxes are a fraction of what the city collects in taxes. According to the, personal income and the pass-through entity tax represent 22% of the city’s collections. Property taxes constitute 46% of the collections, while sales and use taxes represent 13%.
The available data doesn’t show how much the top 2% of city earners pay on property, sales, or other taxes, Dadayan said. But someone listening to Adams’ interview would not necessarily have known that because Adams did not offer that qualification.
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