New York (N.Y.). Dept. of Finance.

The Department of Finance was established in 1976 by Local Law No. 28. This Department is currently responsible for performing all New York City functions and operations relating to the administration and collection of taxes, assessments and charges imposed by the city, the collection of arrears, and all other sums due the city, including State and Federal aid and receiving, investing and safekeeping of all funds paid into and out of the City treasury. The Department is also responsible for the administration of City payroll and excise and income tax laws, annual inspection and evaluation of all real property, recording of deeds, mortgage leases, satisfaction of mortgages, etc. affecting title to realty, including chattel mortgages, and collection of related fees.

Since 1850, responsibility of assessing real estate, collecting taxes and safekeeping of funds due the City belonged to separate agencies. After undergoing several name changes, described below, all the agencies responsible for fiscal matters, with the exception of the Comptroller and Tax Commission, were consolidated under one agency - the Finance Administration in 1968. In 1976, the Administration fell under the Department of Finance.

The first body to administer property assessments was the Board of Tax Commissioners esbablished in 1850. The Board consisted of three members appointed by the supervisors of the county. Two assessors were elected from each ward to assess property for tax purposes, prepare assessment rolls and to collect assessments. In 1857, the Commissioners were empowered to appoint twelve deputy tax commissioners who performed the duties of assessors. The commissioners also had the power to appoint a surveyor. In 1869, there were four commissioners of taxes and assessments appointed by the Comptroller.

The Department of Taxes and Assessments was created by Chapter 335 of the Laws of 1873. With the consolidation of Brooklyn, the Bronx, Manhattan, Queens, and Staten Island to form Greater New York in 1898, borough offices were established for the department as well as other city-wide agencies. In 1938, the Department of Taxes and Assessments was shortened to Tax Department and some of its responsibilities were transferred to the Department of Finance. In 1963, the name of the department was changed to Real Property Assessment Department under the new charter and in 1968, by Local Law No. 10, the department was placed under the Finance Administration, established in 1966, and the Tax Commission became a separate agency.

Established in 1831 under the Office of Comptroller, the Department of Finance became a separate department under the 1938 Charter and was headed by the Treasurer, also known as the Director of the Department. The powers and duties of the director included: collecting all taxes, assessments, arrears and all other sums due the City unless otherwise provided by law; receiving and safekeeping of all moneys paid into and out of the treasury, and all moneys of the sinking funds and trust funds held by the City. The 1963 Charter invested the following duties in the Department of Finance: to administer and manage all trust funds received or held by the city pursuant to a judgement, decree or order of any court and to administer all excise and non-property taxes imposed by the city.

In 1968, the Department of Finance became the Department of Treasury and former functions of the Department of Finance were transferred to the Department of Tax Collection and the Department of Fiscal Research, departments within the Finance Administration.

The Finance Administration was established by Executive Order of the Mayor No. 17 on July 7, 1966. In 1968, the Administration was made a statutory agency under Local Law No. 10 and was implemented by Executive Order of the Mayor No. 67. The Administration encompassed the Real Property Assessment Department, the City Register, the Department of Tax Collection, the Department of the Treasury, and the Fiscal Research Department. In 1976, under Local Law No. 28, a new Department of Finance was established and took over all duties of the Finance Administration.

From the description of Agency history record. (Unknown). WorldCat record id: 122604692