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NYC Bonds and Taxes For residents of New York City, City bonds may be triple-tax exempt. This means that New York City residents who buy tax-exempt bonds may not have to pay federal, New York State, or New York City income taxes on the interest they receive.
Bonds are issued by governments and corporations when they want to raise money. By buying a bond, you're giving the issuer a loan, and they agree to pay you back the face value of the loan on a specific date, and to pay you periodic interest payments along the way, usually twice a year.
Purpose of NYC bonds New York City sells bonds to finance the construction and repair of infrastructure projects such as roads, bridges, schools, water supply, and wastewater treatment systems. The City determines projects through the capital budgeting process.
New York, NY ? The City of New York (?the City?) announced the successful sale of approximately $1.56 billion of General Obligation Bonds, comprised of $1.41 billion of tax-exempt fixed rate bonds and $151 million of taxable fixed rate bonds.
Debt for the City, excluding that of the New York City Municipal Water Finance Authority, has grown from $39.55 billion in FY 2000 to $95.27 billion in FY 2022, an increase of 141 percent.
A bond is a loan that the bond purchaser, or bondholder, makes to the bond issuer. Governments, corporations and municipalities issue bonds when they need capital. An investor who buys a government bond is lending the government money. If an investor buys a corporate bond, the investor is lending the corporation money.