Committee on Finance

Tuesday, June 30, 2026 · 3:30 PM AM · Committee Room - City Hall

TL;DR

The Committee on Finance approved New York City's budget for Fiscal Year 2027 (July 1, 2026 - June 30, 2027), including the expense budget, capital budget, and tax provisions. The committee also approved $819.1 million in new revenue appropriations and set interest rates for unpaid property taxes ranging from 2.5% to 16% depending on property value.

Key Decisions

FY2027 Expense Budget Approval Passed
FY2027 Capital Budget Approval Passed
Property Tax Interest Rates for FY2027 Passed
New Revenue Appropriation (MN-10) Passed
Community Development Program FY2027 Passed

Agenda PDF Minutes PDF Video

Agenda

Res 0529-2026 Resolution approving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0530-2026 Resolution to establish that the interest rate be six percent per annum for Fiscal Year 2027 for non-payment of taxes on properties with an assessed value of not more than $250,000, or not more than $250,000 per residential unit for cooperative apartments
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0531-2026 Resolution to establish that the interest rate be nine percent per annum for Fiscal Year 2027 for non-payment of taxes on properties with an assessed value of more than $250,000 but less than or equal to $450,000, or more than $250,000 but less than or equal to $450,000 per residential unit for cooperative apartments
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0532-2026 Resolution to establish that the interest rate be sixteen percent per annum for Fiscal Year 2027 for non-payment of taxes on properties with an assessed value of more than $450,000, or more than $450,000 per residential unit for cooperative apartments
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0533-2026 Resolution to establish that the interest rate be two and one half percent per annum for Fiscal Year 2027 for certain properties for which the owner has entered into an installment payment agreement with the department of finance for payment of delinquent property taxes, assessments, or other charges
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
M 0069-2026 Communication from the Mayor - Submitting the Expense, Revenue, Contract Budget, for Fiscal Year 2027, pursuant to Section 249 of the New York City Charter.
Mayor's Message
Action: Hearing Held by Committee

This Mayor's Message was Hearing Held by Committee
Res 0539-2026 RESOLUTION TO ADOPT A BUDGET APPROPRIATING THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF, FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2026, AND ENDING ON JUNE 30, 2027, IN ACCORDANCE WITH THE PROVISIONS OF THE NEW YORK CITY CHARTER
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0540-2026 RESOLUTION TO ADOPT A CONTRACT BUDGET SETTING FORTH, BY AGENCY, CATEGORIES OF CONTRACTUAL SERVICES FOR WHICH APPROPRIATIONS HAD BEEN PROPOSED FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2026, AND ENDING ON JUNE 30, 2027, IN ACCORDANCE WITH THE PROVISIONS OF THE NEW YORK CITY CHARTER
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
M 0070-2026 Communication from the Mayor - Submitting the Executive Capital Budget for Fiscal Year 2027, pursuant to Section 249 of the New York City Charter.
Mayor's Message
Action: Hearing Held by Committee

This Mayor's Message was Hearing Held by Committee
Res 0541-2026 RESOLUTION BY THE NEW YORK CITY COUNCIL PURSUANT TO SECTION 254 OF THE NEW YORK CITY CHARTER, THAT THE CAPITAL BUDGET FOR FISCAL YEAR 2027 AND CAPITAL PROGRAM, BEING THE EXECUTIVE CAPITAL BUDGET FOR FISCAL YEAR 2027 AND PROGRAM AS SUBMITTED BY THE MAYOR AND BY THE BOROUGH PRESIDENTS PURSUANT TO SECTION 249 OF THE NEW YORK CITY CHARTER, INCLUDING RESCINDMENT OF AMOUNTS FROM PRIOR CAPITAL BUDGETS, BE AND THE SAME ARE HEREBY APPROVED IN ACCORDANCE WITH THE FOLLOWING SCHEDULE OF CHANGES (RESOLUTION A)
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0542-2026 RESOLUTION BY THE NEW YORK CITY COUNCIL PURSUANT TO SECTION 254 OF THE NEW YORK CITY CHARTER, THAT THE CAPITAL BUDGET FOR FISCAL YEAR 2027 AND CAPITAL PROGRAM FOR THE ENSUING THREE YEARS, AS SET FORTH IN THE EXECUTIVE CAPITAL BUDGET FOR THE FISCAL YEAR 2027 AND CAPITAL PROGRAM AS SUBMITTED BY THE MAYOR AS AUGMENTED BY THE BOROUGH PRESIDENTS PURSUANT TO SECTION 249 OF THE NEW YORK CITY CHARTER, AND AMENDED BY THE SCHEDULE OF CHANGES APPROVED UNDER RESOLUTION A, INCLUDING AMOUNTS REALLOCATED BY THE RESCINDMENT OF AMOUNTS FROM PRIOR CAPITAL BUDGET APPROPRIATIONS, IS HEREBY ADOPTED IN THE TOTAL AMOUNTS AS FOLLOWS (RESOLUTION B)
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
M 0074-2026 Communication from the Mayor - Submitting the Proposed City Fiscal Year 2027 Community Development Program, the Proposed CFY'27 Budget, the Proposed Allocation of Calendar Year 2026/CD 52 Funds, the Proposed Calendar Year 2027/CD 53 Budget, dated May 12, 2026.
Mayor's Message
Action: Hearing Held by Committee

This Mayor's Message was Hearing Held by Committee
Res 0543-2026 Resolution approving The City Fiscal Year 2027 Community Development Program, Reallocation of Fifty-Second Year Community Development Funds, and the Proposed Fifty-Third Year Community Development Program
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
M 0080-2026 Communication from the Office of Management & Budget – Transfer City funds between various agencies in Fiscal 2026 to implement changes to the City’s expense budget, pursuant to Section 107(b) of the New York City Charter. (MN9).
Communication
Action: Hearing on P-C Item by Comm

This Communication was Hearing on P-C Item by Comm
Res 0544-2026 RESOLUTION APPROVING THE MODIFICATION (MN-9) OF THE FISCAL 2026 EXPENSE BUDGET TO TRANSFER CITY FUNDS BETWEEN AGENCIES AS PROPOSED BY THE MAYOR PURSUANT TO SECTION 107(b) OF THE NEW YORK CITY CHARTER
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
M 0081-2026 Communication from the Office of Management & Budget – Appropriation of new City revenues in Fiscal Year 2026 in the amount of $819.1 million, pursuant to Section 107(e) of the New York City Charter. (MN-10)
Communication
Action: Hearing on P-C Item by Comm

This Communication was Hearing on P-C Item by Comm
Res 0545-2026 RESOLUTION APPROVING A MODIFICATION (MN-10) PURSUANT TO SECTION 107(e) OF THE CHARTER OF THE CITY OF NEW YORK
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0534-2026 RESOLUTION COMPUTING AND CERTIFYING BASE PERCENTAGE, CURRENT PERCENTAGE AND CURRENT BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2027 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES PURSUANT TO SECTION 1803-a OF THE REAL PROPERTY TAX LAW
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Res 0535-2026 RESOLUTION COMPUTING AND CERTIFYING ADJUSTED BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2027 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES PURSUANT TO SECTION 1803-a OF THE REAL PROPERTY TAX LAW
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
M 0082-2026 Report of the Committee on Finance in favor of approving a resolution of the Council of the City of New York fixing the tax rate for the Fiscal Year 2027, adopted June 30, 2026 upon the recommendation of the Committee on Finance of the Council.
Communication
Action: Hearing on P-C Item by Comm

This Communication was Hearing on P-C Item by Comm
Res 0546-2026 RESOLUTION TO PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF, FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2026 AND ENDING ON JUNE 30, 2027, BY THE LEVY OF TAXES ON THE REAL PROPERTY IN THE CITY OF NEW YORK, IN ACCORDANCE WITH THE PROVISIONS OF THE CONSTITUTION OF THE STATE OF NEW YORK, THE REAL PROPERTY TAX LAW AND THE NEW YORK CITY CHARTER
Resolution
Action: Hearing on P-C Item by Comm

This Resolution was Hearing on P-C Item by Comm
Roll Call
Res 0545-2026 RESOLUTION APPROVING A MODIFICATION (MN-10) PURSUANT TO SECTION 107(e) OF THE CHARTER OF THE CITY OF NEW YORK
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0546-2026 RESOLUTION TO PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF, FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2026 AND ENDING ON JUNE 30, 2027, BY THE LEVY OF TAXES ON THE REAL PROPERTY IN THE CITY OF NEW YORK, IN ACCORDANCE WITH THE PROVISIONS OF THE CONSTITUTION OF THE STATE OF NEW YORK, THE REAL PROPERTY TAX LAW AND THE NEW YORK CITY CHARTER
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0530-2026 Resolution to establish that the interest rate be six percent per annum for Fiscal Year 2027 for non-payment of taxes on properties with an assessed value of not more than $250,000, or not more than $250,000 per residential unit for cooperative apartments
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0532-2026 Resolution to establish that the interest rate be sixteen percent per annum for Fiscal Year 2027 for non-payment of taxes on properties with an assessed value of more than $450,000, or more than $450,000 per residential unit for cooperative apartments
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
M 0069-2026 Communication from the Mayor - Submitting the Expense, Revenue, Contract Budget, for Fiscal Year 2027, pursuant to Section 249 of the New York City Charter.
Mayor's Message
Action: Approved by Committee with Companion Resolution Passed

A motion was made that this Mayor's Message be Approved by Committee with Companion Resolution approved by Roll Call.
Res 0540-2026 RESOLUTION TO ADOPT A CONTRACT BUDGET SETTING FORTH, BY AGENCY, CATEGORIES OF CONTRACTUAL SERVICES FOR WHICH APPROPRIATIONS HAD BEEN PROPOSED FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2026, AND ENDING ON JUNE 30, 2027, IN ACCORDANCE WITH THE PROVISIONS OF THE NEW YORK CITY CHARTER
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
M 0082-2026 Report of the Committee on Finance in favor of approving a resolution of the Council of the City of New York fixing the tax rate for the Fiscal Year 2027, adopted June 30, 2026 upon the recommendation of the Committee on Finance of the Council.
Communication
Action: P-C Item Approved by Comm Passed

A motion was made that this Communication be P-C Item Approved by Comm approved by Roll Call.
Res 0529-2026 Resolution approving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0531-2026 Resolution to establish that the interest rate be nine percent per annum for Fiscal Year 2027 for non-payment of taxes on properties with an assessed value of more than $250,000 but less than or equal to $450,000, or more than $250,000 but less than or equal to $450,000 per residential unit for cooperative apartments
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0533-2026 Resolution to establish that the interest rate be two and one half percent per annum for Fiscal Year 2027 for certain properties for which the owner has entered into an installment payment agreement with the department of finance for payment of delinquent property taxes, assessments, or other charges
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0539-2026 RESOLUTION TO ADOPT A BUDGET APPROPRIATING THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF, FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2026, AND ENDING ON JUNE 30, 2027, IN ACCORDANCE WITH THE PROVISIONS OF THE NEW YORK CITY CHARTER
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0541-2026 RESOLUTION BY THE NEW YORK CITY COUNCIL PURSUANT TO SECTION 254 OF THE NEW YORK CITY CHARTER, THAT THE CAPITAL BUDGET FOR FISCAL YEAR 2027 AND CAPITAL PROGRAM, BEING THE EXECUTIVE CAPITAL BUDGET FOR FISCAL YEAR 2027 AND PROGRAM AS SUBMITTED BY THE MAYOR AND BY THE BOROUGH PRESIDENTS PURSUANT TO SECTION 249 OF THE NEW YORK CITY CHARTER, INCLUDING RESCINDMENT OF AMOUNTS FROM PRIOR CAPITAL BUDGETS, BE AND THE SAME ARE HEREBY APPROVED IN ACCORDANCE WITH THE FOLLOWING SCHEDULE OF CHANGES (RESOLUTION A)
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0542-2026 RESOLUTION BY THE NEW YORK CITY COUNCIL PURSUANT TO SECTION 254 OF THE NEW YORK CITY CHARTER, THAT THE CAPITAL BUDGET FOR FISCAL YEAR 2027 AND CAPITAL PROGRAM FOR THE ENSUING THREE YEARS, AS SET FORTH IN THE EXECUTIVE CAPITAL BUDGET FOR THE FISCAL YEAR 2027 AND CAPITAL PROGRAM AS SUBMITTED BY THE MAYOR AS AUGMENTED BY THE BOROUGH PRESIDENTS PURSUANT TO SECTION 249 OF THE NEW YORK CITY CHARTER, AND AMENDED BY THE SCHEDULE OF CHANGES APPROVED UNDER RESOLUTION A, INCLUDING AMOUNTS REALLOCATED BY THE RESCINDMENT OF AMOUNTS FROM PRIOR CAPITAL BUDGET APPROPRIATIONS, IS HEREBY ADOPTED IN THE TOTAL AMOUNTS AS FOLLOWS (RESOLUTION B)
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0543-2026 Resolution approving The City Fiscal Year 2027 Community Development Program, Reallocation of Fifty-Second Year Community Development Funds, and the Proposed Fifty-Third Year Community Development Program
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0544-2026 RESOLUTION APPROVING THE MODIFICATION (MN-9) OF THE FISCAL 2026 EXPENSE BUDGET TO TRANSFER CITY FUNDS BETWEEN AGENCIES AS PROPOSED BY THE MAYOR PURSUANT TO SECTION 107(b) OF THE NEW YORK CITY CHARTER
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
Res 0534-2026 RESOLUTION COMPUTING AND CERTIFYING BASE PERCENTAGE, CURRENT PERCENTAGE AND CURRENT BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2027 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES PURSUANT TO SECTION 1803-a OF THE REAL PROPERTY TAX LAW
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.
M 0081-2026 Communication from the Office of Management & Budget – Appropriation of new City revenues in Fiscal Year 2026 in the amount of $819.1 million, pursuant to Section 107(e) of the New York City Charter. (MN-10)
Communication
Action: P-C Item Approved by Comm Passed

A motion was made that this Communication be P-C Item Approved by Comm approved by Roll Call.
M 0070-2026 Communication from the Mayor - Submitting the Executive Capital Budget for Fiscal Year 2027, pursuant to Section 249 of the New York City Charter.
Mayor's Message
Action: Approved by Committee with Companion Resolution Passed

A motion was made that this Mayor's Message be Approved by Committee with Companion Resolution approved by Roll Call.
M 0074-2026 Communication from the Mayor - Submitting the Proposed City Fiscal Year 2027 Community Development Program, the Proposed CFY'27 Budget, the Proposed Allocation of Calendar Year 2026/CD 52 Funds, the Proposed Calendar Year 2027/CD 53 Budget, dated May 12, 2026.
Mayor's Message
Action: Approved by Committee with Companion Resolution Passed

A motion was made that this Mayor's Message be Approved by Committee with Companion Resolution approved by Roll Call.
M 0080-2026 Communication from the Office of Management & Budget – Transfer City funds between various agencies in Fiscal 2026 to implement changes to the City’s expense budget, pursuant to Section 107(b) of the New York City Charter. (MN9).
Communication
Action: P-C Item Approved by Committee with Companion Resolution Passed

This Communication was P-C Item Approved by Committee with Companion Resolution
Res 0535-2026 RESOLUTION COMPUTING AND CERTIFYING ADJUSTED BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2027 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES PURSUANT TO SECTION 1803-a OF THE REAL PROPERTY TAX LAW
Resolution
Action: P-C Item Approved by Comm Passed

A motion was made that this Resolution be P-C Item Approved by Comm approved by Roll Call.

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