- Take 1,823 counties in the U.S.
- Rank them by Property Tax as % of Home Value
- where highest (worst) = 1 and lowest (best) = 1,823
- Count down 25 counties from the top (worst) and what do you find?
- Answer: Broome County.
This study by the Tax Foundation ranked Property Taxes on Owner-Occupied Housing, by County, Ranked by Taxes As a Percentage of Home Value, avg 2007 – 2009 for 1823 U.S. counties with a population greater than 20,000.
And what about the counties ranked 1-24 (even worse than Broome)? Only three were not in New York State. Broome also ranks in the top 8% in the nation for property tax as a % of average income.
Big spending politicians + High tax rates + over regulation = businesses and people move away .. leaving an ever greater tax burden on those who stay behind.
At some point those remaining can’t shoulder the burden any longer and the place goes belly up. Among other things, when that happens the trusting civil servants are cheated out of the benefits they’ve been led to expect – and they end up rioting in the street as they are now doing in Greece.