Get Ready For Another Tax Increase In New York State
The summer is just getting started and while we are waiting for the warm weather and the beaches to open, there are some who are looking past summer and the new cigarette tax increase that is coming in New York State.
The budgets in New York State are in and approved and many of them, including the state's budget, will include a hefty increase in taxes and fees. In Buffalo, New York, for example, there will be an additional garbage user fee and a 4% property tax increase.
But beyond the hit property owners will face, there are other taxes that are coming. For those who smoke, you will be paying at least a dollar more for cigarettes starting in September.
The tax was being proposed as we waited for the budget to be passed and now it will take place near the end of summer and will lead to the most expensive cigarettes in the nation.
Governor Hochul is hoping to create a “tobacco-free generation” by increasing the tax on a pack of cigarettes from $4.35 to $5.35.
As far as taxes go, New York State still leads the nation with the highest taxes around. According to a report from NPR, New York State is at the top.
Highest tax burdens
New York - 12.47%
Hawaii - 12.31%
Maine - 11.14%