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Nyc Department Of Finance - What is the New York City Department of Finance?

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The NYC Department of Finance is basically an agency that collects any money that a person owes the city for taxes and most tickets. These are not the only important features of the Department of Finance. They also handle audits, auctions, licensing, and law enforcement. The NYC Sheriff’s Office works hand in hand with the Department of Finance to ensure that all that is due is paid and all tax laws are closely followed.

The Department of finance handles business and property taxes in NYC and also allows businesses to collect the mandatory state sales tax. Any taxes that are evaded will be investigated by the NYC Department of Finance, in conjunction with the Sheriff’s Office of NYC. These two companies together authorize the distribution and retribution of parking tickets and back taxes. The Department also disperses licensing to cigarette vendors all over the city. If any business needs to be audited, the Department will take care of this; they will also seize any property that is repossessed and handle the auctioning off of this property.

The head of the NYC Department of Finance is the Commissioner of Finance. Under the Commissioner is the Deputy Commissioner for Operations, the Deputy Commissioner for Tax Policy and Planning, the Deputy Commissioner for Administration and Planning, the Deputy Commissioner for Information Technology, the Deputy Commissioner and General Counsel and the Deputy Commissioner and Sheriff.

The Operations department handles all payments, adjudications, records of land, all collections, and any and all treasury functions. Tax Policy and Planning involves performing and enforcing tax audits, determining the value of properties, and enforcing and creating tax policies. Those who work in the Administration and Planning sector handle any employee services and human resources, government affairs, communication, and all budget and financial services. The General Counsel, as well as the Sheriff, is responsible for any legal aspects of the financial laws and enforcement of said laws.

There are several main goals and functions of the NYC Department of Finance. First and foremost, the Department of Finance needs to ensure that tax and revenue laws are enforced and followed. The Department is also responsible for keeping all tax payers up to date on any policy and tax changes. If residents and tax payers are not kept informed of policy changes, then the Department of Finance would be held liable for any mishaps in that area. The Department of Finance must also be sure that they are aware of the real value of all properties in the City so they can adjust property taxes accordingly. Along with knowing the value of properties, the Department must also keep a very detailed
record of all properties, as well as maintain these records. One other important service that the Department provides is a center in each borough for residents to have easy access. Residents may need to pay bills, or dispute tickets, or perhaps even dispute tax claims.

The website for the Department of Finance is very helpful in keeping residents up to date on certain information. The website has a tax calendar, updates on where tax dollars are being used, a place to pay fines, a list of services provided, and a contact list.

Many people may look at the NYC Department of Finance poorly, and with disdain, because of the enforcement of tax laws, and the generous amount of parking tickets they hand out. However, the Department of Finance is actually a branch of government to be respected and admired. As annoying as some law enforcement, and paying taxes, may be, it is necessary. The improvements that are made on the environments in which we live, and the brave individuals who protect us on a daily basis, are paid for with tax dollars. The creating of rules and laws and the enforcement of these laws, such as parking restrictions, licensing of certain vendors, and the collection of taxes without discrimination, keep order in a world that would otherwise be chaotic.

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