Property taxes: These places pay the most in New York

| Democrat and Chronicle

ALBANY – It’s no secret: New Yorkers are among the highest taxed in the country.

A new report Friday showed just how much New Yorkers paid in property taxes last year.

The report, released by the Empire Center, a fiscally conservative think tank in Albany, found the effective tax rate for each region of the state.

Calculating tax rates can be tricky, particularly in New York, where property owners face various taxes from multiple jurisdictions, including counties, towns and cities, as well as schools.

The report used data collected by the state Comptroller’s Office to determine how much in total taxes New Yorkers paid last year and compared it the value of their properties.

New Yorkers paid an average of $31.71 in property taxes last year per $1,000 of home value.

Who paid the most?

A new report by the Empire Center shows how much New Yorkers paid in taxes last year per $1,000.

New York City and Nassau County were excluded because the localities impose different tax rates for different classes of property.

Central New York paid the highest effective tax rate in the state, averaging $35.43 for every $1,000 last year.

The Finger Lakes region and the Mid-Hudson Valley faced higher than average tax rates as well, paying $34.61 and $32.11 per every $1,000, respectively.

Four regions paid less than the state’s average: the Southern Tier ($30.57); Long Island ($27.19); as well as the North Country and the Capital Region, which paid just above $26 per $1,000.

Why does the effective tax rate matter?

Effective tax rates are often a key factor in determining whether a person will decide to live or do business in an area, the report said.

The report also found a relationship between low home values and high effective tax rates.

“The tax data points to an inverse relationship between effective tax rates and property values, with high effective rates often correlating to low median home values,” the report said.

That means in places like upstate New York, where home values are less compared to the rest of the state, homeowners pay more in taxes per $1,000 of their homes’ value.

A closer look at tax rates

The village of Sloan, Erie County, had paid the highest effective tax rate in the state, averaging $62.48 for every $1,000.

Sloan had a median property value of $74,900 and homeowners paid average of $4,679 in taxes.

Liberty paid the highest rate in the Hudson Valley region at a rate of $62.40 per $1,000. The Sullivan County village had a median home value of $106,100 and homeowners paid an average of $6,620 in taxes.

In the Finger Lakes, the village of Medina in Orleans County paid the highest tax rates at $56.40 per $1,000. Property values had a $71,300 average, meaning homeowners paid $4,021 last year.

The village of Penn Yan, Yates County, paid the lowest in the region: $16.99 per $1,000.

Binghamton led the way in the Southern Tier, paying an average of $59.88 per $1,000. Property values averaged $87,500 mean homeowners paid an average of $5,240 last year.

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