“Property taxes statewide continue to rise despite a state imposed cap. Most municipalities are not able to raise property taxes more than 2 percent without voter approval. The Department of Budget says the property tax bill for a typical taxpayer is more than the state income tax amount. A report from the Institute on Taxation and Economic Policy shows a resident’s income level determines which tax hits the hardest.”
Quoted Staff Member
Related Reading
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State Rundown 12/17: Tax Policy ‘Naughty or Nice’ List Has Late Entrants
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States Move to Tax the Top in 2024
Mentioned Locations
New York
