Post by justfacts on May 11, 2006 11:43:11 GMT -5
Here's an excerpt from a recent report by the State Comptroller.
************************************************
Local Property Taxes Increased By Three Times The Rate Of Inflation in Last Five Years. New York State’s Property Taxes Among Highest in Nation
New York State local property taxes increased 42% from 2000 to 2005 ― or more than three times the rate of inflation ― growing from $26 billion to $38 billion, according to a research brief on property taxes issued today by New York State Comptroller Alan G. Hevesi.[/b]
New York State’s local property taxes are nearly 50% above the national average and are the fourth highest in the nation per capita.
The report provides an overview of recent trends related to property taxes, analyzes property taxes across different regions of the State and types of local governments, and provides comparable data for every county in the state.
New York City has been excluded from a number of the report’s statewide statistics because the City’s property taxes are relatively low compared to other local governments because it collects revenue from a number of local taxes, including a personal income tax.
Major findings of the research brief include:
* New York’s Property Tax Burden Higher than National Average. Per capita property tax was $1,406 in 2002, the most recent year for which federal data is available, or 49% above the national average of $945, and $40 per $1,000 of personal income, or 28% above the national average of $31 per $1,000.
* When New York City is excluded, property tax per capita was $1,634 in 2002 ― 73% above the national average. In fact, it may even be higher given the growth of property taxes in the last five years.
* Largest Local Tax. By far, the property tax is the largest tax imposed by local governments, representing 79% of all local taxes outside of New York City.
* Property Taxes Growing. Property taxes tend to increase quickly if the economy slows or other revenues decline. From 1995 to 2005, local property taxes grew by 60%, while inflation was 28%. Most of this growth occurred in the last five years after the economy took a downturn.
* Types of Governments and Regional Differences.
Reliance on property taxes varies greatly across types of local governments. Regionally, there are significant variations in amounts paid, with some suburban downstate counties with property taxes per household that are more than twice the statewide average.
"New York taxpayers’ property tax burden is nearly 50% higher than the national average - and shockingly, for areas outside of New York City, 73% higher than the national average," Hevesi said. "Property taxes are by the far the largest and fastest growing component of most New Yorkers’ tax bills. Because local governments have little choice but to raise property taxes or cut services when other revenues fall short during tough economic times, this trend will likely continue."
Regional Differences:
* Total Taxes Per Household. When measured as total taxes per household, taxpayers in Hamilton, Nassau, Putnam, Rockland, Suffolk and Westchester counties have tax burdens that are more than twice the statewide average. In contrast, several western and northern counties, including Cayuga, Chemung, Erie, Herkimer, Tioga and Wyoming, have overall tax burdens that are around 20% below the statewide average.
* Property Values. Property values, a measure of household wealth, are three to four times above the statewide average on Long Island and in much of the Mid-Hudson Valley.
* Property Value Growth. Suburban downstate property values grew by 7% annually from 1995 to 2005, almost five times as fast as the average annual upstate growth of 1.5%.
************************************************
So they know that we are being taxed out of the region! And we know that they are not doing anything about it! 
Ed.
************************************************
Local Property Taxes Increased By Three Times The Rate Of Inflation in Last Five Years. New York State’s Property Taxes Among Highest in Nation
New York State local property taxes increased 42% from 2000 to 2005 ― or more than three times the rate of inflation ― growing from $26 billion to $38 billion, according to a research brief on property taxes issued today by New York State Comptroller Alan G. Hevesi.[/b]
New York State’s local property taxes are nearly 50% above the national average and are the fourth highest in the nation per capita.
The report provides an overview of recent trends related to property taxes, analyzes property taxes across different regions of the State and types of local governments, and provides comparable data for every county in the state.
New York City has been excluded from a number of the report’s statewide statistics because the City’s property taxes are relatively low compared to other local governments because it collects revenue from a number of local taxes, including a personal income tax.
Major findings of the research brief include:
* New York’s Property Tax Burden Higher than National Average. Per capita property tax was $1,406 in 2002, the most recent year for which federal data is available, or 49% above the national average of $945, and $40 per $1,000 of personal income, or 28% above the national average of $31 per $1,000.
* When New York City is excluded, property tax per capita was $1,634 in 2002 ― 73% above the national average. In fact, it may even be higher given the growth of property taxes in the last five years.
* Largest Local Tax. By far, the property tax is the largest tax imposed by local governments, representing 79% of all local taxes outside of New York City.
* Property Taxes Growing. Property taxes tend to increase quickly if the economy slows or other revenues decline. From 1995 to 2005, local property taxes grew by 60%, while inflation was 28%. Most of this growth occurred in the last five years after the economy took a downturn.
* Types of Governments and Regional Differences.
Reliance on property taxes varies greatly across types of local governments. Regionally, there are significant variations in amounts paid, with some suburban downstate counties with property taxes per household that are more than twice the statewide average.
"New York taxpayers’ property tax burden is nearly 50% higher than the national average - and shockingly, for areas outside of New York City, 73% higher than the national average," Hevesi said. "Property taxes are by the far the largest and fastest growing component of most New Yorkers’ tax bills. Because local governments have little choice but to raise property taxes or cut services when other revenues fall short during tough economic times, this trend will likely continue."
Regional Differences:
* Total Taxes Per Household. When measured as total taxes per household, taxpayers in Hamilton, Nassau, Putnam, Rockland, Suffolk and Westchester counties have tax burdens that are more than twice the statewide average. In contrast, several western and northern counties, including Cayuga, Chemung, Erie, Herkimer, Tioga and Wyoming, have overall tax burdens that are around 20% below the statewide average.
* Property Values. Property values, a measure of household wealth, are three to four times above the statewide average on Long Island and in much of the Mid-Hudson Valley.
* Property Value Growth. Suburban downstate property values grew by 7% annually from 1995 to 2005, almost five times as fast as the average annual upstate growth of 1.5%.
************************************************
So they know that we are being taxed out of the region! And we know that they are not doing anything about it! 
Ed.
