Capital Region Rural Counties Saw Tax Migration Net Gains in 2021
In 2021 Columbia Ranks 3rd for Adjusted Gross Income Net Gain, Saratoga 1st for Individual Net Gain
The Capital Region’s rural counties in 2021 continued to be among the state’s top net attractors of movers and income, especially those relocating to Columbia and Greene Counties, according to a Center for Economic Growth (CEG) analysis of new IRS tax migration statistics.
Amid the pandemic, Columbia and Greene counties became popular destinations for people leaving the New York City region, and that continued in 2021. That year, 1,065 individuals filed tax returns in Columbia County after filing their taxes in Kings, New York and Queens counties the previous year. In contrast, only 227 individuals with returns filed in Columbia County in 2020 moved to those three New York City region counties in 2021. That resulted in a net gain of 838 individuals. Columbia County’s adjusted gross income (AGI) net gain from movers in those three New York City region counties was $189 million. Tax migration data for the New York City region’s other two counties was not available.
Greene County’s net gains from those three New York City region counties was 469 individuals and an AGI of $62.7 million. That made Columbia and Greene counties’ combined net gain from Kings, New York and Queens counties 1,037 individuals and an AGI of $251.7 million.
Overall and nationwide in 2021, Columbia County had net gain of 383 individuals and $202.4 million in AGI. That was the third greatest net gain in AGI in the state, trailing only Ulster ($303.3 million) and Suffolk ($1.7 billion) counties.
Elsewhere in the Capital Region, Greene County saw a nationwide net gain of 524 individuals and an $81.9 AGI – the sixth greatest AGI net gain in New York. Saratoga County had the state’s eighth highest net AGI gain at $59.7 million. Warren County’s net AGI gain ranked 12th at $23.4 million and Washington County’s ranked 16th at $13.3 million. Albany County experienced a net AGI loss of $77.5 million – the largest net loss in the region.
Five Capital Region counties ranked among New York’s top 15 for net gains of individuals covered by returns. Saratoga County ranked first in the state with a net gain of 1,920 individuals covered by returns. Greene County ranked fifth with 524 individuals and Columbia County ranked sixth with 383. Washington County ranked 10th with 249 and Warren County ranked 11th with 238.
In April 2021, CEG launched a talent attraction campaign using the CapNY brand, along with a website – GoCapNY.com – and its associated social media channels. To help attract even more young professionals to the Capital Region, CEG launched a CapNY Connectors initiative. The Connectors are local residents who love living in the Capital Region and who have volunteered to share that love to help connect prospective new residents to our community. They work in diverse industries, pursue unique interests, and come from all walks of life. The CapNY Connectors are available to answer questions and discuss first-hand experience of what it’s like to work and live in CapNY.
Young professionals can find a connector who shares their interests and ambitions by checking out the profiles on the GoCapNY website. Website visitors who are unsure of whom they should connect with, can fill out the form to provide some additional details, and the CapNY networking team will make a connection for them.
Visit CapNY Connectors at https://gocapny.com/capny-connectors.
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