New York’s budget increased, cumulatively, more than pop+inf in state funds and all funds from 2013-22.
State Funds Budget Data
- Estimated 2023 State Funds Budget ($ Billions): $136.16
- Budget Limit ($ Billions): $142.76
- Budget Limit Growth ($ Billions): 4.85%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $1,033.48
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $4,134
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $2,811.91
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $11,247.62
State All Funds Budget Data
- Estimated 2023 All Funds Budget ($ Billions): $219.50
- Budget Limit ($ Billions): $230.14
- Budget Limit Growth ($ Billions): 4.85%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $10,839.66
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $43,358.66
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $39,112.77
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $156,451.07
Other Considerations
- Economic Freedom (2020) (Rank): 50 [Fraser Institute]
- State Tax Collections Per Capita (FY2021) ($): $4,714 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 9 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $12,083 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 15.90% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 50 [Tax Foundation]
- Top Income Tax Rate (2023) (%): 10.90% [Tax Foundation]
- Top Income Tax Rate (2023) (Rank): 48 [Tax Foundation]
- Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): P [Tax Foundation]
- Overall State Business Tax Climate Index (2023)(Rank): 49 [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (%): 7.25% [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (Rank): 18 [Tax Foundation]
- State-Local Sales Tax Rate (2023) (%): 8.52% [Tax Foundation]
- State-Local Sales Tax Rate (2023) (Rank): 10 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 1.40% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 12 [Tax Foundation]
- Tax and Expenditure Limit (0-3): 0 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 32 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): N [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $20,761 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 49 [US Government Spending]
- Official Poverty Rate (2020-22) (%): 12.4 [Census Bureau]
- Official Poverty Rate (2020-22) (Rank): 36 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (%): 11.9 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (Rank): 47 [Census Bureau]
- Labor Force Participation Rate (Dec. 2022) (%): 60.40% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec. 2022) (Rank): 37 [Bureau of Labor Statistics]