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NY's No. 1 -- For Highest Tax Burden, New Rankings Say

While many are looking forward to receiving their tax returns in the coming weeks, New Yorkers may have less to be excited about than residents in many other states according to a brand new report.

New York has the highest tax burden in the country.

New York has the highest tax burden in the country.

Photo Credit: Pixabay

WalletHub conducted a study of each state’s tax burden and determined that the Empire State has the largest tax burden in the country by a wide margin. According to WalletHub, tax burden measure the proportion of total personal income that residents pay toward state and local taxes.

To determine the residents with the biggest tax burdens, WalletHub compared the 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes — as a share of total personal income in the state.

New York’s 12.97 percent total tax burden is trailed by Hawaii (11.71 percent); Maine (10.84 percent); Vermont (10.77 percent) and Minnesota (10.25 percent) in the top five. Alaska (5.10 percent); Delaware (5.55 percent) and Tennessee (6.28 percent) are the lowest in the country.

New York had the sixth highest property tax burden (4.57 percent); the highest individual income tax burden (4.81 percent) and 21st highest total sales and excise tax burden (3.59 percent).

The complete report with state-by-state numbers can be found here.

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