#reserve-funds

#reserve-funds

New York City is already one of the most expensive places to live in the United States, but residents should brace themselves to pay even more for housing if the city's budget deficit persists. To further reduce the deficit, Mamdani wants more state tax revenue to go to the city. At a late January ." The irony here, press conference , Mamdani how "New Yorkers contribute 54.5 percent of state revenue and receive only 40.5 percent back ,

He's put a pretty extreme option on the table, which is a combination of raising property taxes and taking money from reserves and relying on some pretty aggressive revenue projections to boot,

Sarah works full-time as a school teacher, but has been forced to take up a second job to pay the spiralling bills from the management company of her building. While she was aware of the annual service charge of around 1,400, she wasn't prepared for the bills for a reserve fund which have risen steeply as the management company aims to secure an extra 400,000 from residents for a roof replacement and other projects.