This Won’t Make You Feel Any Better About New York Taxes
Yes, we know you have a high tax burden in New York. But maybe you get through it by thinking 'I get a lot for our tax dollars.' Maybe not.
I am sure you talk about it all the time, and hear about it all the time: taxes in New York are high, right? It is tough to see all that money coming out of your paycheck, not mention property taxes and all the other tax bills we pay. But my thing has always been - hey, we pay a lot, and it seems like we get a lot for our tax dollars. Well, I'm an idiot.
Wallethub recently ranked all the states based on our 'return on investment (ROI)' on our taxes. Basically, what we services we get in return for our tax dollars. And New York did not fare well! The Empire State ranked 46 out of 50 states when it comes to tax dollar ROI. Ouch!
So how did Wallethub come up with this data? the article says they reached the rankings '...by contrasting state and local tax collections with the quality of the services residents receive in each of the 50 states within five categories: Education, Health, Safety, Economy, and Infrastructure & Pollution.'
Now, obviously we do well in a lot of these areas - but based on how much we pay in taxes, maybe the quality of these services should be a little higher, right? That said, good or bad: it is still tough to pay all those tax dollars, especially this time of year when you are seeing exactly what you paid over the last 12 months!