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NYC total property value surges over $1 trillion, setting a record

from CNBC

One of the hottest real estate markets in the U.S. could be its own economy — and in fact now dwarfs the size of a few Group of 20 (G20) countries. In a statement released, New York City's Department of Finance said that New York's tentative property assessment for fiscal year 2017 had crossed $1 trillion for the first time ever. That amount rose $102.5 billion, or 10.6 percent, from the FY 2016 assessment, the department said. more

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