New York ranks 41st on “low” tax burden list

New York ranks 41st on low tax burden list

Meaghan M. McDermott, Staff writer D&C 5:58 p.m. EDT April 6, 2015

Stock photo(Photo: Dynamicfoto-PedroCampos, Getty Images/iStockphoto)

Next time you’re gearing up for a good gripe about New York’s property taxes, take a deep breath and mutter under your breath, "At least I don’t live in Rhode Island."

National financial services firm WalletHub has ranked New York 41st in its 2015 listing of

States with the Highest and Lowest Property Taxes report released this week. Topping the list with the lowest property taxes is Hawaii, where residents pay an average of $482 per year.

Empire State households pay an average of $2,734 in real estate taxes according to the firm’s analysis of data from all 50 states and the District of Columbia. The findings sandwich New York taxpayers between those in Ohio (No. 40, with $2,677 in annual real estate tax) and Rhode Island (No. 42, with $2,779 in annual real estate tax). The American household average is $2,089.

But Rhode Islanders don’t stop writing out their checks there. That’s because the Ocean State also charges residents an annual motor vehicle excise tax that amounts to an average of $1,133 per household per year. Residents there are charged as much as $60 per $1,000 of vehicle value.

There are 27 states that levy some kind of vehicle property tax, and according to WalletHub, those taxes are 13 times higher in Rhode Island than in Montana.

But the WalletHub findings don’t change other analyses that show some New Yorkers pay some of the highest taxes in the nation, as a percent of home value.

Indeed, Zillow.com reports that the highest taxed county in the country is Allegany County. Nearby Orleans County comes in fifth in their study.

Advertisements

Comments are closed.