City missed $24M in property taxes from cell phone antennas, says Liu
City Comptroller John Liu and state Comptroller Thomas DiNapoli yesterday announced that a joint audit found New York City’s Department of Finance failed to collect an estimated $24 million in property taxes because it did not use available resources to identify property owners who did not report income from cell antennas.
“As phone companies and cell tower landlords profit handsomely, our taxpayers are entitled to share in that revenue,” Liu said. "This audit clearly outlines how the Finance Department can recover $24 million. That's real money that can stave off anything from tax increases to cuts in public services.”
“During these tough economic times, the city and state need to maximize all sources of available revenue to keep crucial programs running and needed employees like police, firefighters and teachers on the job,” DiNapoli said.