As if the cost of living in New York was not high enough, a recent study found that residents of New York State paid more local taxes than any other state in the nation. The combination of New York's income, property, and sales tax were 72% higher than the national average. For every $1,000, New Yorkers fork over $73.36 in taxes. The national average? $42.61. Ouch. The next highest is New Jersey at $51 per $1,000.

To lay it out, $200,000 in New York buys a modest house or a very very very modest apartment in the city, a happy meal costs at least $4.30, and we pay the highest taxes in the nation. Just dandy.

- Read more about the study.

Posted by tien mao in NYC at 10:11 AM