It’s not just the rich getting screwed by NYS. Anyone with a nice house is, too, and that includes plenty of middle class folks who are paying in the high four to five figs in property taxes.
I don’t know any rich folks fleeing NYS.
But I know a lot of middle class ones...
RE: and that includes plenty of middle class folks who are paying in the high four to five figs in property taxes.
Tell me about it, I live in Long Island and that’s what we get. Their rationale is that’s the price you pay for having good schools ( and I have to admit that Long Island schools are among the best in the nation ). 70% of our property taxes go to the school system.
But here’s the question -— Lower tax states also have just as good, if not better schools, how come they are able to manage without having to pay 5 figure property taxes?
Exactly, NYS has high local school taxes and when people wake up that they are no longer deductible we can only hope the school tax growth reverses.