SmartAsset, a financial technology company, recently released its annual study on the places in the United States with the lowest tax burden and Broome County found a spot on the list.

The study took into account income, sales, property, and fuel taxes to determine the financial impact on individuals in each county across the country. In this year's study, Broome County ranked among the places with the lowest tax burden in the state of New York.

Broome County's Low Tax Burden

According to SmartAsset's study, Broome County stands out as one of the counties in New York with a relatively low tax burden. This means that individuals who live in Broome County have a comparatively lower financial obligation when it comes to income, sales, property, and fuel taxes.

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The Study's Top-Ranking Counties in New York

Among the counties in New York, Broome County performed quite well in terms of tax burden. However, other counties in New York did have a lower tax burden. Some of the top-ranking counties in New York include Hamilton, Franklin, Lewis, Saint Lawrence, and Chautauqua.

The Tax Burden Index

To evaluate the tax burdens in different counties accurately, SmartAsset developed a Tax Burden Index, which represents an overall score based on various tax factors. Counties with lower scores on the Tax Burden Index indicate a lesser tax burden for residents. Broome County's inclusion as one of the places with a lower tax burden in New York shows its commitment to doing all it can to maintain a favorable tax environment for its residents.

Methodology and Interactive Map

For detailed information on the study's methodology and to explore the tax burdens across different counties in New York, SmartAsset provides an interactive map on its website. The map offers a visual representation of tax burdens based on income, sales, property, and fuel taxes, allowing users to gain a comprehensive understanding of the tax landscape in the state. Check out the map here.

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