UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number:     811-10337          

          BlackRock New York Municipal Income Trust          
(Exact name of registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE 
19809 
(Address of principal executive offices) 
(Zip code) 


Robert S. Kapito, President
BlackRock New York Municipal Income Trust

40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)

 

Registrant's telephone number, including area code:     888-825-2257          

Date of fiscal year end:     October 31, 2006     
Date of reporting period:     July 31, 2006     

Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS (unaudited)
JULY 31, 2006

BlackRock New York Municipal Income Trust (BNY)

         
Principal        
  Amount   Option Call    
Rating1 (000) Description Provisions2   Value  
    LONG-TERM INVESTMENTS—154.6%      
      Multi-State—11.0%      
      Charter Mac Equity Issuer Trust,      
A3 $        6,000 3     Ser. A-2, 6.30%, 6/30/49 No Opt. Call   $    6,294,360  
Baa1 5,500 3     Ser. B-1, 6.80%, 11/30/50 No Opt. Call   5,847,325  
      MuniMae TE Bond Subsidiary, LLC,      
A3 6,000 3     Ser. A-1, 6.30%, 6/30/49 06/09 @ 100   6,294,360  
Baa1 3,000 3     Ser. B-1, 6.80%, 6/30/50 11/10 @ 100   3,208,650  
            21,644,695  
      New York—127.3%      
      Albany Indl. Dev. Agcy. RB, New Covenant Charter Sch. Proj.,      
NR 910       Ser. A, 7.00%, 5/01/25 05/15 @ 102   899,162  
NR 590       Ser. A, 7.00%, 5/01/35 05/15 @ 102   574,890  
AAA 8,000   Convention Ctr. Dev. RB, Hotel Unit Fee Secured, 5.00%, 11/15/44, AMBAC 11/15 @ 100   8,202,560  
      Dorm. Auth. RB,      
AA- 1,765 4     City Univ. Proj., Ser. A, 5.25%, 7/01/11 N/A   1,879,425  
AA 4,335       Mem. Sloan Kettering Proj., Ser. 1, 5.00%, 7/01/35 07/16 @ 100   4,447,277  
AAA 5,605       Mental Hlth. Svcs. Facs Impt-B, 5.00%, 2/15/35, AMBAC 02/15 @ 100   5,789,629  
BB+ 6,000       Mt. Sinai NYU Hlth. Proj., 5.50%, 7/01/26 07/08 @ 100   6,084,300  
AAA 9,000       New Sch. Univ. Proj., 5.00%, 7/01/41, MBIA 07/11 @ 100   9,160,200  
AAA 5,000       New York Univ. Proj., Ser. 2, 5.00%, 7/01/41, AMBAC 07/11 @ 100   5,089,000  
A- 2,000       No. Shore Long Island Jewish Grp. Proj., 5.375%, 5/01/23 05/13 @ 100   2,085,320  
A- 2,000       No. Shore Long Island Jewish Grp. Proj., 5.50%, 5/01/33 05/13 @ 100   2,102,020  
AA- 13,025   Liberty Dev. Corp. RB, 5.25%, 10/01/35 No Opt. Call   14,264,980  
A- 5,000   Long Island Pwr. Auth. RB, Ser. B, 5.00%, 12/01/35 06/16 @ 100   5,132,500  
AA- 2,000   Madison Cnty. Indl. Dev. Agcy., Civic Fac. RB, Colgate Univ. Proj., Ser. B, 5.00%, 7/01/33 07/13 @ 100   2,046,820  
      Met. Transp. Auth. RB,      
AA- 12,000       Ded. Tax Fund, Ser. A, 5.00%, 11/15/30 11/12 @ 100   12,258,480  
A 12,000       Ded. Tax Fund, Ser. A, 5.125%, 11/15/31 11/12 @ 100   12,326,400  
      Mtg. Agcy. RB,      
Aa1 5,950       Ser. 101, 5.40%, 4/01/32 10/11 @ 100   6,078,342  
Aaa 15,500       Ser. A, 5.30%, 10/01/31 04/11 @ 100   15,799,770  
      New York City GO,      
AAA 3,290 4     Ser. C, 5.375%, 3/15/12 N/A   3,553,167  
AA- 2,710       Ser. C, 5.375%, 3/15/28 03/12 @ 100   2,856,638  
AA- 7,000       Ser. D, 5.375%, 6/01/32 06/12 @ 100   7,339,710  
      New York City Indl. Dev. Agcy. RB,      
B 3,200       American Airlines, JFK Intl. Arpt. Proj., 7.625%, 8/01/25 08/16 @ 101   3,685,280  
B 4,000       American Airlines, JFK Intl. Arpt. Proj., 7.75%, 8/01/31 08/16 @ 101   4,601,240  
BBB- 2,000       Liberty Interactive Corp. Proj., 5.00%, 9/01/35 09/15 @ 100   1,970,740  
A 750       Marymount Sch. Proj., 5.125%, 9/01/21, ACA 09/11 @ 102   763,103  
A 2,000       Marymount Sch. Proj., 5.25%, 9/01/31, ACA 09/11 @ 102   2,042,560  
AAA 1,550       Royal Charter Presbyterian Proj., 5.25%, 12/15/32, FSA 12/11 @ 102   1,635,033  
BBB- 14,850       Spec. Arpt. Airis JFK I LLC Proj., Ser. A, 5.50%, 7/01/28 07/11 @ 100   15,168,235  
      New York City Mun. Wtr. Fin. Auth. RB,      
AAA 4,000       Ser. A, 5.00%, 6/15/32, FGIC 06/11 @ 100   4,105,680  
AA+ 6,500       Ser. C, 5.00%, 6/15/32 06/11 @ 100   6,628,895  
AA+ 1,500       Ser. D, 5.00%, 6/15/38 06/16 @ 100   1,541,085  
AA+ 5,000       Ser. D, 5.00%, 6/15/39 06/15 @ 100   5,122,050  
      New York City Transl. Fin. Auth. RB,      
AAA 1,140 4     5.00%, 5/01/09 N/A   1,188,883  
AAA 2,520       5.00%, 5/01/29 05/09 @ 101   2,584,159  
BBB 6,700   New York Cntys. Tobacco Trust III RB, 6.00%, 6/01/43 06/13 @ 100   7,015,436  
      Port Auth. of NY & NJ,      
AA- 5,000       RB, Cons., Ser. 132, 5.00%, 9/01/38 09/13 @ 101   5,128,200  
Caa2 9,250       RB, Contl./Eastn. LaGuardia Proj., 9.125%, 12/01/15 09/06 @ 100   9,431,577  
AAA 13,000       SO, JFK Intl. Air Terminal, 5.75%, 12/01/22, MBIA 12/07 @ 102   13,533,780  
BBB 2,500   Rensselaer Tobacco Asset Sec. Corp., Tobacco Settlement RB, Ser. A, 5.75%, 6/01/43 06/12 @ 100   2,558,725  

1

BlackRock New York Municipal Income Trust (BNY) (continued)

         
Principal        
  Amount   Option Call    
Rating1 (000) Description Provisions2   Value  
    New York—(cont’d)      
BBB $        5,000   Rockland Tobacco Asset Sec. Corp., Tobacco Settlement RB, 5.75%, 8/15/43 08/12 @ 100   $    5,121,500  
      Suffolk Cnty. Indl. Dev. Agcy. RB,      
BBB- 1,175       Jeffersons Ferry Proj., 5.00%, 11/01/28 11/16 @ 100   1,179,559  
A 7,000       Keyspan Port Jefferson Proj., 5.25%, 6/01/27 06/13 @ 100   7,185,150  
      TSASC, Inc., Tobacco Settlement RB,      
AAA 5,000 4     Ser. 1, 5.75%, 7/15/12 N/A   5,506,350  
AAA 8,000 4     Ser. 1, 6.375%, 7/15/09 N/A   8,655,120  
AA 2,500   Westchester Cnty. Ind. Dev. Agcy. RB, Winward Sch. Civic Fac. Proj., 5.25%, 10/01/31, RAA 10/11 @ 100   2,578,375  
AAA 2,000 4 Westchester Tobacco Asset Sec. Corp., Tobacco Settlement RB, 6.75%, 7/15/10 N/A   2,234,040  
            249,135,345  
      Puerto Rico—16.3%      
BBB 4,060   Children’s Trust Fund Tobacco Settlement RB, 5.625%, 5/15/43 05/12 @ 100   4,174,492  
      Pub. Bldgs. Auth. RB,      
BBB 4,400 4     Gov’t. Facs., Ser. D, 5.25%, 7/01/12 N/A   4,715,524  
BBB 1,600       Gov’t. Facs., Ser. D, 5.25%, 7/01/36 07/12 @ 100   1,641,568  
      Pub. Fin. Corp. RB,      
Aaa 7,475 4     Ser. E, 5.50%, 2/01/12 N/A   8,088,249  
Aaa 7,000 4     Ser. E, 5.70%, 2/01/10 N/A   7,438,480  
Aaa 5,750 4     Ser. E, 5.75%, 2/01/07 N/A   5,808,592  
            31,866,905  
      Total Investments—154.6% (cost $290,817,7665)     $302,646,945  
      Other assets in excess of liabilities—1.5%     2,844,275  
      Preferred shares at redemption value, including dividends payable—(56.1)%     (109,782,103 )
      Net Assets—100%     $195,709,117  

1 Using the highest of Standard & Poor’s, Moody’s Investment Services or Fitch’s ratings.  
2 Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.  
3 Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of July 31, 2006, the Trust held 11.1% of its net assets, with a current market value of $21,644,695, in securities restricted as to resale.  
4 This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.  
5 Cost for Federal income tax purposes is $290,815,896. The net unrealized appreciation on a tax basis is $11,831,049, consisting of $12,134,197 gross unrealized appreciation and $303,148 gross unrealized depreciation. 
  KEY TO ABBREVIATIONS
             
ACA — American Capital Access   MBIA — Municipal Bond Insurance Assoc.
AMBAC — American Municipal Bond Assurance Corp.   RAA — Radian Asset Assurance
FGIC — Financial Guaranty Insurance Co.   RB — Revenue Bond
FSA — Financial Security   SO — Special Obligation
GO — General Obligation        

2


Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.


SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)     BlackRock New York Municipal Income Trust               

By:     /s/ Henry Gabbay                                                  
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: September 27, 2006

     Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:     /s/ Robert S. Kapito                                             
Name: Robert S. Kapito
Title: President and Principal Executive Officer
Date: September 27, 2006

By:     /s/ Henry Gabbay                                                  
Name: Henry Gabbay
Title: Treasurer and Principal Financial Officer
Date: September 27, 2006