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As New Yorkers continue to feel the pinch, a new study shows just how high state and local taxes are across the state.
A WalletHub analysis ranks New York the second highest nationwide for overall state and local tax burden.
Experts cited high property taxes, steep income tax rates and costly fees on goods and services as key factors driving the ranking.
The study also found New York has the highest cigarette taxes in the country.
Here are some more findings from the study:
- Hawaii has the highest overall tax burden, while Alaska has the lowest.
- Vermont has the highest property tax burden, while Alabama has the lowest.
- Oregon has the highest individual income tax burden, while seven states (including Texas, Florida and Nevada) have none.
- Hawaii has the highest sales and excise tax burden, while New Hampshire has the lowest.
- Red states have a lower tax burden than blue states, on average.
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