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Struggling MTA sees extra cash from real estate boom

2015-06-23 18:12:38| Railroads - Topix.net

As the New York City real estate market continues to hit record highs, the cash-strapped Metropolitan Transportation Authority is seeing revenues from real estate taxes that far exceed the numbers in its budget. The Authority has received 40 percent more in real estate-related tax revenues this year than what it budgeted for - a total of $732.4 million, according to a report presented to the agency's board on Monday.

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