STUDY: New York One of the Worst States for Taxpayer ROI
With Tax Day approaching on July 15, which was delayed due to COVID-19, a study was conducted to determine the best and worst states for taxpayer ROI.
Tax Day can be a painful reminder of how much we have to invest in federal, state, and local governments. According to a taxpayer survey, many Americans feel they pay to much in taxes.
Now taxpayer return on investment, or ROI, varies based where one lives. Federal income-tax rates are uniform across the nation, yet some states receive far more federal funding than others
WalletHub studied state and local tax collections with the quality of the services residents receive in each of the 50 states within five categories: Education, Health, Safety, Economy, and Infrastructure & Pollution, taking into account the drastically different rates at which citizens are taxed in each state.
New York was ranked as the fifth-worst state for taxpayer ROI. Here's the breakdown.
Taxpayer ROI in New York:
- 46th – Overall ROI
- 43rd – Total Taxes per Capita (Population Aged 18+)
- 13th – Education
- 26th – Health
- 15th – Safety
- 46th – Economy
- 34th – Infrastructure & Pollution
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