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  "documentTitle": "MTA Financial Impact COVID-19",
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  "authorName": "McKinsey",
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  "notes": "The table compares MRT-1, MRT-2, and Urban tax components across the Great Recession period.",
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      "text": "The first year of the Great Recession was used to inform analysis of the first year of the current crisis.",
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      "text": "(4/28/20) Please see disclaimer on page 3. These analyses represent only potential scenarios based on discrete data from one point in time. They are not intended as a prediction or forecast, and the situation is changing daily.",
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      "text": "Real estate tax revenue",
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      "text": "The first year of the Great Recession was used to inform analysis of the first year of the current crisis. While the magnitude of this crisis is larger, it is not a housing or liquidity crisis – two counteracting effects which were assumed to roughly balance out. Used the historic performances of the MTA’s real estate tax revenue to capture potential differences or similarities between residential and commercial real estate.",
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      "text": "Source: MTA historical tax data",
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      "text": "Historical real estate tax performance in the Great Recession",
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