Skip to comments.Map of the Day: Top State Marginal Income Tax Rates, as of January 1st, 2012
Posted on 02/29/2012 6:07:35 AM PST by SeekAndFind
Need a companion chart showing state sales tax, and a third chart showing personal property tax.
In Texas we have high property taxes and high sales tax. So, it's not as rosey as it looks.
Bottom line is, WE ARE ALL GETTING SCREWED!
—and a third chart showing personal property tax.—
I moved from Seattle to rural Kentucky. My annual property tax is less than the monthly property tax of most of my friends in Seattle. And we have a ~6% sales tax while Washington is approaching 10%.
I prefer the way I’m charged in KY. A save close to ten thousand a year in property taxes. And I really don’t buy much stuff to which sales tax applies.
This doesn’t really go far enough in providing the necessary information needed to compare states. Maryland, as an example, has both a state income tax and a county “piggyback” income tax. The county “piggyback” tax ranges, depending on the county. from about 1.25% to over 3%. My own county is about 2.5%, thus totaling about 8%.
Then, we have state property taxes and local property taxes, and worse. So, the property tax in my county is nearly 1%, which adds significantly to the bill. And then, in at least two counties, there is a separate property tax for park and planning that adds about another 1%.
Come on Kalifornia. I really think that you are below the average on your Property Taxes. People owning and living in houses. They must be rich - RAISE THEIR TAXES. Oh! Wait - Prop 13 - will of the people and all that rot. Bother!
I moved from PA to Wash. My property tax bill in PA was over 6 thou a year. My tax bill in WA is less than 3000. I sold my home in PA for the exact same price I bought my home in WA, 250K. Also, the income tax in PA is a gross income tax, so if you make 100K, you are taxed 3 thousand dollars, plus there is a 1% local income tax, 4 thou total. Including the cheaper car and home insurance, I figure I saved over 10 thousand per year moving to Washington.
Boy, MN must have a severely long right tail on its distribution for property taxes if the median is only 0.94%! Mine are 15% of my home value based on the county assessor’s valuation of my home.
I’d like to know mean, median and mode as well as the methodology used to derive these numbers. Do you know off the top of your head if that info is at the source URL?
In MN we also lost (in 2012) the homestead exemption, which was replaced by a “FMV offset”. This increased our property taxes by at a minimum of 6% on average. These numbers are about 2.5 years old, so I’d imagine they have changed substantially since most states are looking for greater revenue in light of the huge shortfalls most are dealing with now (too much spending can cause that)...
Correction, the owner-occupied tax numbers are at least 3.5 years old!
—I figure I saved over 10 thousand per year moving to Washington.—