Report: Highest Tax Rates in Binghamton and Places With Low Property Values

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A report yesterday highlighted the troubles of upstate communities with low property values, finding that many have the highest tax burdens in New York, Gannett’s Albany Bureau reported.

The city of Binghamton was the most heavily taxed city in the state last year, with an effective tax rate of $52.34 per $1,000 of property value, said the report from the fiscally conservative Empire Center For New York State Policy.

From the article:

The city had a median home value of $80,700 and the median property-tax bill was $4,224, the report said.

“Cities and rural areas with low property values are obviously going to have the highest taxes,” said Binghamton Mayor Matthew T. Ryan. “And we are one of those cities.”

The report showed that wealthier communities may pay more in taxes, but the percentage is less when compared to property values.

So the lowest-taxed community in the state was the Village of Sagaponack in Long Island’s tony Hamptons. The village had an effective rate of $1.24 per $1,000 of property value in 2011. But the median home value was $319,600 in Suffolk County.

The Rye School District portion of the city of Rye in Westchester County was the lowest-taxed area within cities, with an effective rate of $16.27 per $1,000 of home value. But the city’s median home value is $630,000, with a median tax bill of $10,250, the report said.

Empire Center director Tim Hoefer said the report is aimed at letting taxpayers compare their tax bills with other communities.

2011 Property Tax Rankings

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