No tax on Social Security, a $20,000 pension exclusion, and world-class hospitals. Watch out: high property taxes and overall living costs.
The short version
Social Security: not taxed at all.
Pensions: $20,000 exclusion per person at 59½+; New York public pensions fully exempt.
401(k) and IRA withdrawals: The $20,000 exclusion covers private 401(k)/IRA withdrawals.
The setup: Brackets 4%–10.9%, plus New York City tax if you live there.
The average effective property tax rate is about 1.30% — roughly $3,900 a year ($325 a month) on a $300,000 home. Your county sets the real number.
Help for seniors: STAR credit for most owners; Enhanced STAR gives homeowners 65+ a bigger break.
Try your own home value in the Property Tax Estimator.
Overall cost of living runs about 25% above the U.S. average. The combined state and average local sales tax is 8.54%.
January days top out around 39°F and July days around 85°F, with roughly 224 sunny days a year. Watch out for: Blizzards and lake-effect snow upstate; coastal storms downstate.
World-class care in New York City; upstate access varies.
New York has an estate tax. Estate tax above about $7.35 million (2026) — with a 'cliff' that can erase the exemption just above it