Another day, another sobering report for New York taxpayers.
In a survey conducted by WalletHub, titled 2015’s Best & Worst States to be a Taxpayer, New York landed 46th overall, and dreadfully low in nearly every conceivable category.
If you’re looking for a good tax climate, New York State is the 46th place you’d want to live. There’s a new analysis of the taxpayer’s burden in every state in the country.
According to WalletHub, the site that conducted the study, New Yorkers pay an average of just over $7,000 in state and local taxes, 25% higher than the national average. For comparison, Massachusetts residents pay about $1,000 less, Vermont residents about $1,400 less.
Interestingly enough, the Cuomo administration just yesterday lashed out at another report which ranked New York dead last in ‘economic outlook’ for 2015, due in par to economic categories, such as Marginal Corporate Income Tax Rate, Marginal Personal Income Tax Rate, and Property Tax Burden, in which the Empire State ranked near the bottom.
Cuomo spokesman Rich Azzopardi responded by cherry-picking other tax numbers to refute the economic outlook report, an effort that seems highly ridiculous considering another survey is backing it up.
Azzopardi stated that “As a result of this administration’s work, New York has the lowest middle class taxes since 1953, the lowest business tax rate since 1968, and the lowest manufacturer tax rate since 1917.
But the latest survey bolsters the poor economic findings of the first, with some other staggering numbers.
Other tax indicators also did not bode well for New Yorkers. New York residents pay the 49th highest gas taxes in the nation, and pay the highest cigarette taxes in the country, even more than the District of Columbia.
If you’re looking at income tax, real estate tax, or sales and income tax? Not very good either. New York ranks 40th, 41st, and 37th respectively in those categories.
Will the Cuomo administration again be arguing the latest in a string of surveys and reports which indicate that the tax situation in New York is among the worst in the nation?