The Tax Foundation is out with a new report today, which found that nationally the combined state and local tax burden fell in 2009.New York, however, bucked the tide.
As a national average, taxpayers paid 9.8 percent of their income to state and local taxes – down from 9.9 percent in 2008. In New York, taxpayers shell out 12.1 percent, up from 11.9 percent in 2008. That tax burden was good enough for second highest in the nation in 2009, beaten narrowly by New Jersey’s 12.2 percent burden. The report found:
In 2009, the residents of three states stand above the rest, paying the highest state-local tax burdens in the nation: New Jersey, New York and Connecticut.They’re the only three states where taxpayers give up 12 percent or more of their income in state-local taxes, a full percentage point above the next highest state, Wisconsin.
The folks at the Tax Foundation have been putting this annual report together for nearly 20 years.A sampling of the annual data finds that New York’s state and local tax burden has been as high as 13.2 percent (1977) and as low as 11.5 percent (2001).
New York has also had the highest state and local tax burden 29 out of 33 years.Yay.
You may also like
Healthcare Highlights in the New State Budget
Governor Hochul's focus on affordability seems to have skipped over the healthcare portions of the new state budget.
The deal finalized May 27 Read More
Four Problems with a Statewide Pied-à-Terre Tax
Soon after Governor Hochul floated the idea of a "pied-à-terre" tax in New York City, Albany Sen. Patricia Fahy proposed to expand the concept to the rest of the state.
As with H Read More
Albany Should Listen to Jamie Dimon
In his annual message to shareholders, JP Morgan Chase's chief executive, Jamie Dimon, offered a timely and pointed warning for New York policymakers.
It's worth , with emphasis add Read More
Mamdani Gets an Important Tax Fact Wrong
At a hearing in Albany last week, New York City Mayor Zohran Mamdani lobbied state lawmakers to help him balance the city's finances with a two-percentage-point hike in the city's income tax on people making over $1 million Read More
Parsing the Impact of Mamdani’s Tax Hike Plans
The front-running candidate for New York City mayor, Zohran Mamdani, has said he can finance his costly campaign promises – including free buses and universal child care – by taxing only a sliver of the city's residents Read More
Why New York’s Health Premiums Keep Going Up
New Yorkers continue to face some of the costliest health premiums in the U.S., and the insurance industry's recently finalized rate applications shed light on why that is.
In summa Read More
Two Dozen School Districts Are Returning to the Polls for Budget Revotes
Voters in 24 New York school districts return to the polls on Tuesday for school budget revotes. Last month, voters in 96 percent of school districts outside New York City conducting votes approved their school budgets for the upcoming year.
The 683 sc Read More
Even With Federal Cuts, New York’s Health Funding Would Remain High
New York's health-care industry stands to lose billions of dollars in federal funding under the major budget bill being debated in Washington – a rare and jarring turn of events for a sector accustomed to steadily increas Read More