New York taxes


A new study shows people exited New York in droves in 2013, and while there is disagreement as to why they left,  another report suggests taxes could be playing a significant role.


New York tax officials say 84 percent of municipal governments and 97 percent of school districts have maintained the 2 percent property tax cap that entitles residents to state tax credits.

Executive Deputy Tax Commissioner Nonie Manion says they’re finishing distribution of $200 million in credits to 2.5 million homeowners, with the last checks going out now.

Testifying at a legislative budget hearing, she says the credits have helped drive compliance by the schools and municipalities; the three-year program will ultimately put $1.5 billion into New Yorkers' pockets.

A Washington-based policy group says New York residents had the highest state-and-local tax burden in the country in 2011.

The Tax Foundation says Wednesday that they used the latest data available to show New York residents paid 12.6 percent of their collective incomes in state and local taxes in 2011.

New Jersey was No. 2 at 12.3 percent. The national average was 9.8 percent.

ALBANY, N.Y. (AP) — A Cuomo administration official says New York is trying to lure TV shows with its tax credits program and the "Tonight" show would qualify if it decides to move back to Manhattan.