New York lost $755M in real estate tax revenue this year: REBNY

September was the cruelest month yet for tax revenue generated from real estate sales. The number of transactions has slumped, draining city and state coffers of vital revenue, according to a report released Thursday by the Real Estate Board of New York. All told, the city and state have missed out on $755 million in tax revenue this year as tax receipts have fallen by 42 percent from last year. Tax revenue is responsible for