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Binghamton
Binghamton
New York
2 reviews
3 out of 5 stars based on 2 ratings
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Binghamton is a city in, and the county seat of, Broome County, New York, United States. It lies in the state's Southern Tier region near the Pennsylvania border, in a bowl-shaped valley at the confluence of the Susquehanna and Chenango Rivers. Binghamton is the principal city and cultural center of the Binghamton metropolitan area (also known as Greater Binghamton, or historically the Triple Cities), home to a quarter million people. The population of the city itself, according to the 2010 census, is 47,376. From the days of the railroad, Binghamton was a transportation crossroads and a manufacturing center, and has been known at different times for the production of cigars, shoes, and computers. IBM was founded nearby, and the flight simulator was invented in the city, leading to a notable concentration of electronics- and defense-oriented firms. This sustained economic prosperity earned Binghamton the moniker of the Valley of Opportunity. However, following cuts made by defense firms after the end of the Cold War, the region has lost a significant portion of its manufacturing industry. Today, while there is a continued concentration of high-tech firms, Binghamton is emerging as a healthcare- and education-focused city, with the presence of Binghamton University acting as much of the driving force behind this revitalization.

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Taxes

C

How did New York earn the grade of C? We examined the state taxes based on how age friendly they are. New York has a state sales tax of 4.00%. Of particular interest is that New York does not have taxes on social security. There are estate taxes. There are no taxes imposed on inheritance. New York has an effective property tax rate of 1.65%. Weighing these taxes and other taxes most likely to impact the aging population is how New York earned its state tax grade of C.

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