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 Distribution of the Burden of New York City's Property Tax 2023

Nyc Tax Commission S 2023-2025 Form

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uh let's talk taxes right now a new report ranking U.S states with the top total tax burden and New Yorkers buckle up Robert Frank joins us with more it's never good news for New Yorkers when you're going to talk about taxes and we all know that California New Jersey New York they all have high income tax rates but when it comes to all state taxes combined New York ranks first in the nation it's a new ranking from wallet Hub you add together the total tax burden for each state so that's income tax property tax sales and excise tax as a share of total income New York topped that list with a tax burden of 12.5 percent Hawaii ranked second at 12.3 followed by Maine Vermont Connecticut and New Jersey Alaska had the lowest tax burden at just five percent also near the bottom was Tennessee at number 47 Florida at number 46 both with burdens around six percent so that's half of New York's red States had average lower tax burdens than blu

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