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Special Feature Capital Spending
February 24, 2017At the end of fiscal year 2016, New York City debt outstanding grew to $112 billion. As total debt has grown—by 66 percent since 2005—the forms of debt the City issues have also diversified. This growth affects the City budget in the form of higher debt service costs. For City-supported debt, debt service costs were about 11 percent of tax revenues in fiscal year 2016.