The MTA's budget woes could get worse, and it's all the real estate market's fault, the Times reports. So far, the MTA's take from taxes on mortgages and real estate transactions this year is $71.5 million, less than half of what the authority predicted in its "conservative" forecast. That forecast called for $880 million in real estate tax revenue in 2009, but the MTA is only on pace to receive $434 million. Somebody buy that One Mad Park penthouse quick! [NYT, previously]
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