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Old 11-23-2014, 06:24 AM
 
122 posts, read 146,374 times
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So, I'm wondering what New Yorkers are really getting in return for their high state income taxes that other states aren't getting.

I recently left the area for Florida. Much to my surprise Florida has roads, parks, schools, a state university system, police, prisons, hospitals... all of the things NYS has in terms of government, but I get to keep more of money. They get their revenue from corporate income tax and sales tax (6%, lower than NYS).

Florida's per capita state expenditure is $3578.76, while New York's is $6,7773.00. That's almost twice the amount!

As far as I can tell, the only thing NYS is doing differently is spending a lot more on public assistance, but still not enough to make up the gap. Of course they have higher road maintenance costs due to winters, but I don't think that accounts for that huge difference.

Anyone know where your tax dollars are going?
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Old 11-23-2014, 06:57 AM
 
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Quote:
Originally Posted by TravelingBluesBrother View Post
So, I'm wondering what New Yorkers are really getting in return for their high state income taxes that other states aren't getting.

I recently left the area for Florida. Much to my surprise Florida has roads, parks, schools, a state university system, police, prisons, hospitals... all of the things NYS has in terms of government, but I get to keep more of money. They get their revenue from corporate income tax and sales tax (6%, lower than NYS).

Florida's per capita state expenditure is $3578.76, while New York's is $6,7773.00. That's almost twice the amount!

As far as I can tell, the only thing NYS is doing differently is spending a lot more on public assistance, but still not enough to make up the gap. Of course they have higher road maintenance costs due to winters, but I don't think that accounts for that huge difference.

Anyone know where your tax dollars are going?
Education is the big one in terms of public schools. It isn't as simple as income taxes and HOA's may be used to provide services in a private fashion in FL residential areas. Keep in mind that FL doesn't have a NYC that will make things more expensive. So, you have to keep other things in mind like that, as well as to what extent things exist.

Think about retirees as well, as they have no need for paying into educational costs and have a more limited income in most cases.

Pay is another aspect to consider. For instance, this list could give a general idea in that regard: Here are the highest-paying markets for employees in all jobs - The Business Journals

Also, what area did you leave, as costs vary greatly throughout NY State and overall COL in FL isn't much different than what you see in Upstate NY, if not higher even outside of Miami. So, it may be a matter of money out of your pocket. http://online.wsj.com/public/resourc...s/download.pdf

Combined sales tax can be as high as 9.5% in FL. Taxes by State: Alabama to Iowa
It appears that FL has a personal property tax, which NY doesn't have. FL Dept Rev - Tangible Personal Property

Last edited by ckhthankgod; 11-23-2014 at 07:22 AM..
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Old 11-23-2014, 07:09 AM
 
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Actually, the NY state sales tax is 4%. It totals 7% because counties are allowed to charge 3% for their own sales tax. It's the same in Florida: the state charges 6% and the individual counties tax their own rate on top of that.
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Old 11-23-2014, 07:12 AM
 
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Originally Posted by hock41 View Post
Actually, the NY state sales tax is 4%. It totals 7% because counties are allowed to charge 3% for their own sales tax. It's the same in Florida: the state charges 6% and the individual counties tax their own rate on top of that.
Which makes sense, as the FL government has to make up the revenue elsewhere to make up for the lack of an income tax versus NY, where the revenue comes different streams of taxation.
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Old 11-23-2014, 07:15 AM
 
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The proportional state expenditure for public schools is about the same.






HOA's may provide things like garbage pickup and tree pruning, but they don't fully replace local governments. I think at best, that might explain the differnce in property taxes, Property Tax Calculator - Tax-Rates.org. NYS seems more than double the property taxes as well.
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Old 11-23-2014, 07:20 AM
 
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Originally Posted by ckhthankgod View Post
Which makes sense, as the FL government has to make up the revenue elsewhere to make up for the lack of an income tax versus NY, where the revenue comes different streams of taxation.

The total combined sales tax in Amherst, NY ( a suburb of Buffalo) is 8.75%. The same in West Palm Beach is 6% ( no additional county or local sales tax) and Miami Beach is 7% (only 1% additional).
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Old 11-23-2014, 07:24 AM
 
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Originally Posted by TravelingBluesBrother View Post
The total combined sales tax in Amherst, NY ( a suburb of Buffalo) is 8.75%. The same in West Palm Beach is 6% ( no additional county or local sales tax) and Miami Beach is 7% (only 1% additional).
This varies within both states. So, this isn't indicative of sales tax throughout both states.

This also goes for property taxes and my point about HOA's is that they provide services, which may be services provided through your tax money here.

There's also the aspect of home prices as well, as that makes up the biggest percentage of costs(about 30%).

Your chart still shows that NY pays more for education, but less for Medicaid, transportation and corrections than FL.

Last edited by ckhthankgod; 11-23-2014 at 07:32 AM..
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Old 11-23-2014, 07:32 AM
 
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Also, median household income in NY as of 2011: $55,246.

Median household in Florida: $44,299.

It also sounds like the people of Florida can't afford any higher taxes.
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Old 11-23-2014, 07:40 AM
 
252 posts, read 391,375 times
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Quote:
Originally Posted by TravelingBluesBrother View Post
The total combined sales tax in Amherst, NY ( a suburb of Buffalo) is 8.75%. The same in West Palm Beach is 6% ( no additional county or local sales tax) and Miami Beach is 7% (only 1% additional).
You can do the same thing in NY. For example, the combined sales tax in Hamilton County in NY is 7%. Yet in 8 Counties in Florida the combined rate is 7.5%
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Old 11-23-2014, 07:40 AM
 
56,235 posts, read 80,370,899 times
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Quote:
Originally Posted by hock41 View Post
Also, median household income in NY as of 2011: $55,246.

Median household in Florida: $44,299.

It also sounds like the people of Florida can't afford any higher taxes.
More info: New York State Income and Careers - USA.comô

Florida State Income and Careers - USA.comô
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