NY1 --Real Estate Industry Says It's Responsible for Nearly 40 Percent of City's Tax Revenue

The city's real estate industry is highlighting its importance to the city, saying it's responsible for nearly 40 percent of the city's total tax revenue.

In a report commissioned by the Real Estate Board of New York, industry leaders say they generate more than $15 billion in taxes each year.

That's 38 percent of the tax haul brought in by the city.


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