Comptroller Audit Reveals the Improper Classification of Queens Properties

The audit report finds that the Department of Finance’s incorrect classification of Queens properties as mixed-use properties resulted in lost revenue for the City. On June 10, 2016, the Office of the City Comptroller Scott Stringer released a report of an audit conducted by the Department of Finance. The audit sought to determine whether the Department of Finance used procedures to ensure that properties classified as mixed-use in Queens had been properly classified.


Comptroller Releases Findings of Lost City Revenue in Audit of Department of Finance

The audit report reveals that the misclassification of 140 properties has deprived the City of $1.7 million annually in lost property tax revenue. On February 18, 2016, the Office of the NYC Comptroller publicized the results from its audit of the New York City Department of Finance.  The audit sought to investigate whether the Department of Finance had implemented procedures that adequately safeguard against the misclassification of Brooklyn property sites. The Comptroller’s Office and DOF … <Read More>