Reply With QuoteProperty Taxes on Families making less than $15,000 is 3.9% but the property taxes on families making $634,000 or more, it's only 0.7%
Notice how the lowest income pays more overall in total taxes 12.7%
Got to love the internet for endless amounts of information
click here for a chart of State & Local Taxes in 2002 (Shares of family income for non-elderly taxpayers)
Property Taxes on Families making less than $15,000 is 3.9% but the property taxes on families making $634,000 or more, it's only 0.7%
Notice how the lowest income pays more overall in total taxes 12.7%
Ahhhh.... you read the numbers but you don't stop to think about what they mean.
NY is a fairly progressive state and they sock it to the rich whenever they can. Now, what person do you know who makes $15,000 actually owns property? Nobody.
What they are calculating is the amout of property tax the LANDLORD pays that is passed onto the tenant in the form of higher rent. What we do in NYS is tax the hell out of business owners (and rental property owners) thinking we are making them pay extra. But (especially in regard to residential rental property) what actually occurs is the property owner just raises the rent to pay for the added taxes.
The Renters never see a property tax bill. They don't get pissed at their elected officials, just their landlord for raising the rent. If we didn't tax the crap out of rental properties, those "appalingly high" property tax rates wouldn't be so bad for the poor folks.
The devil's always in the details, ain't it?
Data is not the plural of Anecdote.
The devil's always in the details, ain't it?
This is true.
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