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N.Y. ranks poorly for taxpayer ROI, report finds

Rochester Business Journal
April 21, 2014

New York ranks in the bottom third of states with the worst taxpayer return on investment, a new report by WalletHub shows.

The report, “States with the Best & Worst Taxpayer ROI,” used 27 metrics to compare each state’s infrastructure, education, health, safety, economy and pollution with their tax rates. New York ranked 38th on the list for return on investment, but 51st in terms of its tax rate.

WalletHub—a social website launched by Evolution Finance that offers financial tools and information for consumers and small business owners—noted a disconnect in the minds of taxpayers between the amount we pay each April and what we ultimately received from the government in return.

The report ranked Wyoming with the highest taxpayer return on investment and Kentucky with the lowest. Among some of the categories measured, Vermont had the best school systems, while New York had the worst water quality.

The best hospitals are in Iowa, according to the report, while the worst are in West Virginia. The highest violent crime rate is found in the District of Columbia, while the best is Maine.

New York ranks 25th for overall government services and 14th for education. Its health rank is 16th, while its safety rank is 14th.

New York was ranked last in terms of taxation in report in mid-March by WalletHub.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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