The total market value of all of the property in the city has been appraised at a whopping $1.4 trillion for fiscal year 2023, an 8.2% increase from the previous fiscal year and a 2.1% increase from fiscal 2021, before the pandemic, according to the city’s Department of Finance.
The portion of that value that the city can bill property taxes for also rose, by 8.1% to $277.4 billion, representing real estate activity between Jan. 6, 2021, and Jan. 5 this year. During the previous fiscal year, the market value of properties dropped to $1.3 trillion, a 5.2% decrease from the year before, reflecting the impact of the
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