How Much More New York Residents Pay In Taxes Compared To Rest Of U.S.

A brand new study determined New Yorkers are paying a lot more taxes than compared to most Americans.

A WalletHub spokesperson reached out to Hudson Valley Post to let us know where New York State stands in its recent tax study.

"With Tax Day looming and over 3 in 4 Americans more worried about inflation than taxes, WalletHub today released its 2024 Taxpayer Survey, as well as its yearly report on the States with the Highest & Lowest Tax Rates, to help people better understand this confusing time of year," a WalletHub spokesperson told Hudson Valley Post in an email.

New York Has the 2nd Highest Tax Rates in the Country

The study find that New York State has the second highest tax rate in all of the United States. Only Illinois has a higher tax, according to WalletHub.

Tax Rates in New York (1=Lowest; 25=Avg.)

• 50th- Overall Rank
• 50th – Overall Effective State & Local Tax Rate
• 49th – Income Tax
• 46th – Real-Estate Tax
• 23rd – Sales & Excise Taxes

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New Study: New York Residents May More Taxes Than Most Of U.S.

Below are some of the study's key findings for New York State:

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Key Findings Of 2024 WalletHub Tax Study

WalletHub also revealed to us other key findings of its tax study, including:

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• 90% of Americans think filing your taxes should be free
• 40% know someone who cheated on their taxes
• 75% of Americans are more worried about inflation