New York’s “tax the rich” plan to help balance the budget this year isn’t bringing in as much revenue as expected.

Albany approved higher income tax rates on New Yorkers making more than $500,000 annually along with higher fees on luxury items. Opponents had warned that the higher rates would send wealthy residents and businesses fleeing the state.

Buffalo Sabres owner and Paychex founder Tom Golisano changed his official residence to Florida to avoid paying $13,000 a day in state income taxes. Developer Donald Trump, calling the tax hikes a “total disaster for the state,” said they had caused several of his millionaire friends to think about leaving as well.

“People aren’t wedded to a geographic place as they once were,” said Lt. Gov. Richard Ravitch.

That is the case with Science First, a manufacturer of scientific products in Buffalo since 1960 that is building a new facility in Florida.

Nancy Bell said that “it was the higher tax bracket, the so-called millionaire’s tax” that forced her and her two business-partner sons to move.

Gov. David A. Paterson said that revenue from higher taxes levied in April was about 20 percent less than expected, although some of that could be attributed to the recession. The state has received only about half of the $1 billion revenue from New York’s 100 richest taxpayers.

“We’ve probably lost jobs and driven people out of the state,” the governor said.

But the impact of higher taxes will be felt in other ways.

“It’s not just who leaves,” said E.J. McMahon of the Manhattan Institute. “It’s who doesn’t come here? Who doesn’t start a company here? Who graduates from Columbia and decides to start up a business in Philadelphia so they don’t have to share their money with Albany?”

Those losses will be felt beyond Albany, in the villages and towns and school districts as well.

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