New York’s Overall Tax Burden Ranks Second in the Nation in 2025

April 2nd, 2025

The following statement can be attributed to Justin Wilcox, Executive Director of Upstate United

“According to a newly released study from Wallethub, New York is ranked at the top of the list for having the highest individual income tax burden (5.76% to state and local governments), second highest overall tax burden (13.56% of personal income), fourth highest in property tax burden (4.28%) and twenty second in sales and excise tax burden (3.52%). While it may not come as much of a surprise to many New Yorkers that we are saddled with some of the highest taxes in the country, providing relief or prioritizing affordability continues to be more of a talking point than an action item for policymakers in Albany.

“Ironically, this analysis comes to us at the same time legislative leaders are in the process of negotiating a record-high state spending plan that is likely to exceed $250 billion. Will these latest findings serve as the wake-up call that lawmakers need to craft a fiscally responsible budget? Not likely. However, as we continue to lose residents and businesses to more financially attractive and competitive states, it becomes increasingly clear every year that we need to change course.”