She is a senior studying Political Science at the University of Massachusetts-Amherst. So, while Massachusetts residents ponder moving to tax-friendly states like New Hampshire and Florida, New Yorkers seem to be flocking to Massachusetts for some fiscal relief.Ībout the Author: Sarah Delano is a Roger Perry Government Transparency Intern at the Pioneer Institute for the summer of 2023. Thus, while Massachusetts is expensive, it is somewhat more affordable to those living in New York. New York’s rating on the housing cost index was 230.1, while Massachusetts’ was 177.6. Massachusetts was not too far behind, coming in fourth with a rate of 135.
New York’s tax rates surpass Massachusetts’ on all levels!įurther, New York was the second-highest ranked state on World Population Review’s cost of living index with a rating of 148.2. It also has a 6.25 percent sales tax rate with no local taxes, and an average property tax of 1.14 percent of the home’s assessed value. New York’s property tax is 1.4 percent of the home’s assessed value, on average, whereas the state’s average sales tax is 8.52 percent, where 4 percent is levied on the sale of goods and groceries and local sales tax rates can reach up to 4.875 percent.įor reference, the personal income tax in Massachusetts is a flat 5 percent, which will have an additional levy of 4 percent on earnings above $1 million beginning this year. In addition to the state tax, New York City has a local tax of 4 percent while Yonkers has one of 4.5 percent and a special tax of 0.38 percent. Book: U-Turn: America’s Return to State Healthcare Solutions.Pioneer Institute’s Life Sciences Initiative.Common Core National Education Standards The Massachusetts tax calculator is updated for the 2024/25 tax year.BOOK: A Vision of Hope – Catholic Schooling in Massachusetts.