Friday, September 16, 2016

Taxpayers are fleeing New York in droves

Taxpaying New Yorkers are leaving in droves for other states, according to a new study.
In 2014, 126,000 New York tax filers fled to other places in the United States — more than from any other state, according to the study posted on by two demographers.
The Empire State also lost the most “high earners,” who reported incomes of more than $200,000 a year.
“New York has been leading the nation in domestic migration for decades,” Wendell Cox, who co-authored the study, told the Albany Times Union.
While New York’s population is still growing, in part because of immigration, many residents are leaving for other states because of high property taxes, a lack of business opportunities and unaffordable homes, Cox said.
“The property taxes are bad, but they are on top of an even worse situation in terms of ­affordability,” he said. READ MORE