Study: New York Is 2021’s State with the Highest Tax Burden
Local News, Business & Finance, Press Releases
By Chris Boyle
Published: April 06 2021
WalletHub ranks New York on property taxes, individual income taxes, and sales and excise taxes.
Photo by: Shutterstock
In order to determine which states tax their residents most aggressively, WalletHub compared the 50 states based on the three components of state tax burden — property taxes, individual income taxes, and sales and excise taxes — as a share of total personal income.
Tax Burden in New York (1=Highest, 25=Avg.):
1st – Overall Tax Burden (12.79%)
6th – Property Tax Burden (4.40%)
1st – Individual Income Tax Burden (4.96%)
22nd – Total Sales & Excise Tax Burden (3.43%)