Taxman NYC, The Numbers Are Stunning, Yeah
Posted: February 22nd, 2007 | Filed under: Grrr!New York City has long had a notorious reputation for high taxes, but an official analysis released yesterday shows just how much the city stands out in this regard: State and local taxes swallow $9.02 out of every $100 in household and business income, putting New York’s tax burden far above those of the eight other American cities with populations over one million.
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The average state and local tax burden for the other eight cities in the analysis was $6.16 of every $100 in gross taxable resources. Philadelphia ($7.16) came in a distant second to New York, and Los Angeles ($6.88) came in third, according to the report.