A report released by ATTOM Data Solutions this week identified Upstate New York as a national leader in high property taxes. Binghamton, Rochester and Syracuse were all among the highest-taxed large communities in the country for property taxes as a percentage of home value.
Speaking to USA Today’s Albany Bureau, Unshackle Upstate leadership team member and CEO of the Greater Binghamton Chamber of Commerce, Jennifer Conway stated “these high tax rates inhibit potential new residents from moving into the region, or new home buyers from purchasing their first new home.”
High property taxes present a significant economic challenge for Upstate New York homeowners and commercial property owners alike. They make our region uncompetitive, limit the potential of existing and new businesses, and are a contributing factor in the decades of population decline Upstate has experienced.
The property tax cap has succeeded in controlling the growth of our already high taxes, but until Albany gets serious about providing comprehensive and substantive mandate relief for our school district and county governments progress will remain elusive.
You can read Unshackle Upstate’s mandate relief plan, “Let NY Work,” here.