The outlook for this year has become much less certain as the stock market has plummeted in recent months and certain forms of federal aid, such as stimulus measures and expanded unemployment benefits, have ended.
The city’s Independent Budget Office said it was not possible to calculate tax revenue lost from the people who moved because some of them could work remotely for New York-based businesses and pay city taxes. In the long run, the office said, their tax status could become a major policy issue as states fight for their share of remote workers’ taxes.
Sophia and Charlie Blackett moved to Rowayton, Conn., from Brooklyn last year, in part because both of their jobs in technology allowed them to work from home permanently. Ms Blackett, 27, had previously considered raising children in the city, but the pandemic’s incarceration changed her thinking.
“I used to live off the crowds,” she says. Now she said, “I’m thinking about waking up in my bed in an apartment, and I just feel a little anxious.”
The issue has become a talking point in the governor’s race. Gov. Kathy Hochul, a moderate Democrat, said earlier this year that New York’s sharp population decline caused by the city’s losses was “an alarm bell that cannot be ignored.” Long Island Representative Tom Suozzi, a centrist who is challenging her in this month’s primary, has attributed the exodus to crime, high taxes and prohibitive living costs.
Gergana Ivanova, 28, a clothing designer and social media influencer, said her decision to move to Miami was less about taxes. The pandemic made the downsides of living in New York City more noticeable, she said, including the lack of space in her tiny Queens apartment and the trash piling up on the sidewalks. She felt less safe when the streets were empty.