Tax Comparison: Averill park, NY vs Otsego, MI
Understanding Your Tax Burden
This page compares the three main types of taxes between Averill park, NY and Otsego, MI: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Averill park, NY
$9,192
Based on a $419,200 home
Rate: 2.1928%
Otsego, MI
$4,750
Based on a $419,200 home
Rate: 1.1332%
| Data | Averill park, NY | Otsego, MI |
|---|---|---|
| Effective Property Tax Rate | 2.1928% | 1.1332% |
| Estimated Property Tax | $9,192 | $4,750 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Otsego, MI are $4,442 lower than in Averill park, NY for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
NY
4%-10.9%
Single: $5,436
Married: $9,785
MI
4.25%
Single: $4,250
Married: $7,650
| Data | NY | MI |
|---|---|---|
| Tax Rate | 4%-10.9% | 4.25% |
| Single Filer ($100k) | $5,436 | $4,250 |
| Married Couple ($200k) | $9,785 | $7,650 |
| Median Income ($80.6k) | $4,837 | $3,424 |
Comparison: Income taxes in MI are $1,413 lower than in NY for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Averill park, NY
8.875%
Combined rate
Annual sales tax: $1375
(Based on $15,500 spending)
Otsego, MI
6.000%
Combined rate
Annual sales tax: $930
(Based on $15,500 spending)
| Data | Averill park, NY | Otsego, MI |
|---|---|---|
| State Sales Tax | 4.00% | 6.00% |
| Combined Sales Tax | 8.875% | 6.000% |
| Annual Tax Amount | $1,375 | $930 |
Comparison: Shopping in Otsego, MI costs $445 less in annual sales tax than in Averill park, NY for the average household.
Tax Comparison Insights
Tax Insights: Averill park vs Otsego
- Property Tax: Otsego has a 1.0596 percentage points lower effective property tax rate than Averill park.
- Income Tax: Living in MI could save you approximately $1,413 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Otsego is 2.88 percentage points lower than in Averill park.
Overall Tax Burden Comparison
Averill park, NY
$15,404
Combined annual tax burden
Property
$9,192
Income
$4,837
Sales
$1,375
Otsego, MI
$9,104
Combined annual tax burden
Property
$4,750
Income
$3,424
Sales
$930
Overall Comparison: Otsego, MI has an estimated $6,300 lower total tax burden than Averill park, NY based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.