Middle class by tax bracket in Westchester County, NY: $300k
NY State's legislative leaders agreed last week to raise tens of millions of dollars in fees and impose taxes on individuals earning more than $200,000 and couples earning more than $300,000. Is this a middle class tax hike ?
The tax increases and elimination of the property tax rebate program prompted an outcry among local officials in Westchester, which has towns with some of the highest property tax rates in the country.
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Eliminating the property tax rebate will save the state $1.5 billion, while new income tax brackets for the highest earners will bring in $4 billion. Because Westchester has a high concentration of families with high incomes, its residents will feel the impact of the income tax increases more than most, officials said.
"We expect to see a disproportionate impact on New Yorkers in the region, and in particular Westchester," said Stephen J. Acquario, executive director of the New York State Association of Counties.
From Albany, Taxes Raised Enough to Hurt
By ROSS GOLDBERG
Published: April 5, 2009
The new state budget hit particularly hard in Westchester, where many residents will find it more difficult to keep up with their sky-high property taxes.