Taxes in New York, New York
Complete tax guide for New York, NY. State income tax up to 6.85%, 1.69% property tax, 4.83% sales tax. Calculate your total tax burden.
State Income Tax
6.85%
New York
Property Tax
1.69%
Effective rate
Sales Tax
4.83%
Combined rate
Tax Burden
Very High
New York, NY Tax Overview
Population
8,336,817
Median Income
$67,046
Cost of Living
187.2 (100 = avg)
State Income Tax
6.85%
Local Income Tax
0.99%
Median Home Price
$680,000
New York Tax Calculator
Pre-filled with New York median: $67,046
Total Tax Burden in New York
$16,750
Take-Home: $50,296 · Effective Rate: 24.98%
Federal Tax
$6,364
9.49% eff.
NY State + Local
$5,256
7.84% eff.
FICA
$5,129
7.65% eff.
Take-Home
$50,296
75.02% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $67,046.00 | $5,587.17 |
| Federal Income Tax | -$6,364.12 | -$530.34 |
| New York State Tax | -$4,592.65 | -$382.72 |
| New York Local Tax (0.99%) | -$663.76 | -$55.31 |
| Social Security (6.2%) | -$4,156.85 | -$346.40 |
| Medicare (1.45%) | -$972.17 | -$81.01 |
| Take-Home Pay | $50,296.45 | $4,191.37 |
Property Tax in New York
Median Home
$680,000
Annual Tax
$11,492
Monthly Tax
$958
Effective Rate
1.69%
Sales Tax in New York
Combined Rate
4.83%
State Portion
~2.3%
Local Portion
~2.5%
The combined sales tax rate in New York is 4.83%, which is below the national average of 7.12%. On a $100 purchase, you would pay $4.83 in sales tax.
Tax Burden Comparison
| Tax Type | New York | New York Avg | National Avg |
|---|---|---|---|
| Income Tax | 6.85% + 0.99% | 6.85% | 4.6% |
| Property Tax | 1.69% | ~1.69% | 1.1% |
| Sales Tax | 4.83% | ~4.83% | 7.12% |
| Overall Burden | Very High | — | Moderate |
Tax Saving Tips for New York Residents
- New York's income tax rate of 6.85% is above average. Maximize pre-tax retirement contributions (401k up to $23,500, IRA up to $7,000) to reduce both federal and state taxable income.
- New York has a local income tax of 0.99%. If you work remotely, verify whether you owe city tax based on where you work or where you live. Some cities only tax people who work within city limits.
- Property tax in New York (1.69%) is above the national average. Check if you qualify for homestead exemptions or assessment appeals to reduce your property tax bill.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
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See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in New York, NY?
New York, New York has a state income tax rate up to 6.85%, plus a local income tax of 0.99%. The property tax rate is 1.69% and the combined sales tax rate is 4.83%.
How much is property tax in New York?
The effective property tax rate in New York is 1.69%. On the median home price of $680,000, this equals approximately $11,492 per year or $958 per month. This is above the national average of 1.1%.
What is the sales tax rate in New York?
The combined sales tax rate in New York is 4.83%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does New York's tax burden compare to other cities?
New York has a very high overall tax burden. The effective total tax rate for a median-income household is approximately 41.6%. The combination of 6.85% state income tax, 1.69% property tax, and 4.83% sales tax determines the total burden. Cost of living index is 187.2 (100 = national average).
Are there any local taxes in New York?
Yes. New York imposes a local income tax of 0.99% in addition to the state income tax of 6.85%.