According to a report released by the Empire Center for Public Policy, in 2011, Binghamton had an effective tax rate of $52.34 per 1,000 property value. That number reflects city, school and county taxes.

The report shows that some communities may pay more in dollar amount, but the percentage is less when compared to property values.

“We have low property values compared to lots of areas in the state. We don’t by any means have the highest taxes in the state. Many places have much higher taxes but per thousand, we are up there,” said Matthew Ryan, Binghamton Mayor.

“If you have a professional fire and police, your taxes are going to be higher,” he continued, “In this size of urban environment and the kinds of structures we have: tall structures and old structures.”

Ryan says rising pension costs are hurting the City and will continue to especially if they keep rising.

“We’ve cut 66 full-time positions. We’ve made a lot of changes and saved a lot of money in a lot of areas. We’re constantly trying to get our taxes down but we’re one of those cities that has a lot of legacy costs, pensions costs for our retirees and that’s gone up astronomically. That’s gone from $330,000 in 2002 to $8.4 million dollars,” he said.

Data from the State Comptroller’s Office was used to compile the report. New York City and Nassau County were excluded.

The report lists the median home value in the City of Binghamton at $80,700 while the median property tax bill was $4,224.

Broome County Executive, Debbie Preston commented:

“We all suffer from health care, pension and the County suffers from Medicaid. When you come into office, you’ve got to hit the ground running. I don’t know if they’ve done enough to tighten their belt,” said Preston (R), County Executive, “I believe from cutting from the top, not from the bottom, but the top. I believe that’s where the City needs to look.”

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