You're buying your house back every 25 years when you’re tax rate is 2.5% per thousand. Local government taxes in New York are the highest in the nation - 71 percent above the national average. Second place belongs to New Jersey. They're 19 percent above the national average. Health benefit perks, early retirement funding (20-years and out compared to national average of 40+ years), sports funding, special education, increased school enrollment, energy, debt ….all contribute to increased property taxes.As property taxes rise, many seniors find it harder and harder to make ends meet. Planing for reducing reliance on property taxes depends on states increasing their levies on income. Abandoning the property tax in favor for sales taxes and state income taxes drawbacks. A shakeup in the economy can send shockwaves through the part of the economy that generates sales tax and/or state income taxes.