New Yorkers Pay More For This Than Just About Every Other State

If there is one thing that people in the Empire State know, it's sometimes good to be number one. Having one of the best football and baseball teams in the state is a plus. From Niagara Falls to the Statue of Liberty, and everything in-between, there are all sorts of wonderful things that people travel to the state to experience.

All of those great things puts New York on the top of many great lists, unfortniately, there is one list that New York is right near the top of that no state wants to be on.

New Yorkers Pay More In Taxes Than Nearly Every Other State

Just about every New Yorker knows that we have some of the highest taxes in the nation, but it's sometimes hard to quantify exactly how high in comparison to other places. However, WalletHub real tax rates for all 50 states and the District of Columbia, pulling data from the Census Bureau and the Bureau of Labor Statistics to rank each state's taxes. In addition to state and local income tax, they also looked at property taxes, vehicle use taxes, sales taxes, and other common state level taxes to rank each state accurately.

After compiling all the data, New York came out with the second-highest taxes in the country, ranking 50 out of 51.

New York Taxes Are Incredibly High

The 50 out of 51 ranking puts New York above every other state except for Illinois. The median household in the state is paying an effective tax rate of around 14.71%.

If you add this high state tax rate to the nearly $11,000 the average New Yorker pays the Federal Government, its clear that folks in the Empire State are finically strapped.

That rate puts New York well above the national average of 10.92%, and exponentially higher than Alaska which is the lowest taxed state in America.

Something has to give because New Yorkers are running out of funds.