According to the WSJ, New York City is budgeting to collect $30.8 billion in property taxes for fiscal year 2021. These tax bills will go out on June 1 and payments will start becoming due on July 1, which is the start of the city's fiscal year. Here's how the collections break down across houses, apartments, and commercial properties:

Overall -- and despite the fact that values have softened in the wake of COVID-19 -- this year's property tax budget represents a 5.7% increase over FY2020. The reason for this is that each year the city completes its annual assessments on January 5. And so according to the city's January numbers, everything is just fine.

Supposedly this January 5 date is usually non-negotiable. A lawyer is quoted in the Journal article saying that under normal circumstances, if your house were to burn down on January 6, you would still have to pay all of your taxes for the upcoming fiscal year.

Time will tell if this time is different. But it is interesting, though not surprising, to note just how significant property taxes are to New York City's overall tax collections. They represent a little more half of all taxes collected.

Azeem Azhar's recent newsletter, titled "Don't call time on the megacity: cities will learn and adapt," is a reminder of the tensions that cities face. There are forces of attraction. And there are also forces of repulsion.

Cities all around the world continue to create wealth and lift people out of poverty. But they also repulse people through traffic congestion, housing supply shortages, and overcrowding (which is distinct from density). Generally though, the forces of attraction have tended to outweigh the forces of repulsion, which is why the world continues to urbanize.

As Azeem points out, the first city believed to have reached 1 million inhabitants was Rome. It happened some 2,000 years ago. In the 1930s, New York then became the first city to reach 10 million inhabitants. And today, the 10 largest urban agglomerations in the world look something like this:

Outside of Japan, all of these city regions are expected to add many more people by 2030. Missing from this chart, however, are cities such as Lagos, Nigeria. Between 2018 and 2050, the UN estimates that 35% of the growth in the world's urban population will come from just three countries: India (+416 million), China (+255 million), and Nigeria (+189 million).

Long live the megacity.

Nicole Gelinas' recent piece in CityLab is a good reminder that -- despite all of the debates around COVID-19 and urban density -- New York City is actually a really healthy place to live. Part of this obviously has to do with the city's investments in public health. But the biggest factor, Nicole argues, is the city's transit network. Six million people move around New York City each day without a car. That translates into a meaningfully lower traffic fatality rate. New York State's rate is about 4.8 per 100,000, whereas Florida's is 14.7 deaths per 100,000. Taking transit (and having an urban morphology that supports taking transit) also brings along with it other benefits, such as increased walking. And I have to believe that is an important factor. The obesity rate in New York City is thought to be about 22%, compared to a shocking 42% for the country. All of this rolls up into a life expectancy of about 81.2 years for New Yorkers, as of 2017. This is compared to 78.6 years for the US as a whole.

For more on the health of New Yorkers, check out this 2017 Summary of Vital Statistics. (It's the source of the above chart.)