Florida Ranks In The Top 10 For Overall State And Local Tax Rates

Florida Ranks In The Top 10 For Overall State And Local Tax Rates

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There are many considerations that we address when we’re thinking about our next Real Estate purchase………………location, purchase price, carrying charges and tax rates……both personal, as well as property taxes. I recently found a survey published by Wallet Hub which I thought would give a great flavor for the tax structure in the U.S. for those of you considering an upcoming purchase that I’d like to share……………..”

As this year’s tax-filing deadline, April 18, looms closer, it’s fair to wonder which states have the most and least burdensome tax rates. WalletHub’s analysts searched for answers by comparing state and local tax rates in the 50 states and the District of Columbia against national medians.


Tax Rates by State

Overall Rank

State

Effective Total State & Local Tax Rates on Median U.S. Household*

Annual State & Local Taxes on Median U.S. Household*

% Difference Between State & U.S. Avg.**

Annual State & Local Taxes on Median State Household***

Adjusted Overall Rank (based on Cost of Living Index)

1

Alaska

5.64%

$3,060

-47.41%

$4,227

5

2

Delaware

6.07%

$3,293

-43.41%

$3,852

1

3

Montana

6.89%

$3,741

-35.72%

$3,596

3

4

Wyoming

7.43%

$4,036

-30.64%

$4,355

2

5

Nevada

7.66%

$4,157

-28.56%

$4,028

7

6

Tennessee

7.97%

$4,327

-25.65%

$3,566

4

7

Idaho

8.48%

$4,604

-20.88%

$4,095

6

8

California

8.79%

$4,774

-17.97%

$6,908

34

9

South Carolina

8.84%

$4,800

-17.51%

$4,066

11

10

Florida

8.94%

$4,851

-16.65%

$4,287

10

11

Oregon

9.22%

$5,004

-14.01%

$5,481

26

12

Utah

9.25%

$5,019

-13.75%

$5,723

8

13

Colorado

9.34%

$5,071

-12.85%

$5,918

14

14

Alabama

9.43%

$5,120

-12.01%

$4,097

9

15

Arizona

9.60%

$5,211

-10.46%

$4,872

12

16

South Dakota

9.77%

$5,302

-8.89%

$4,625

21

17

District of Columbia

10.00%

$5,428

-6.72%

$8,481

45

18

North Dakota

10.03%

$5,447

-6.40%

$5,367

17

19

New Hampshire

10.09%

$5,475

-5.91%

$7,025

35

20

Louisiana

10.33%

$5,608

-3.62%

$4,652

16

21

Hawaii

10.33%

$5,610

-3.59%

$7,979

49

22

West Virginia

10.38%

$5,635

-3.17%

$4,237

18

23

Georgia

10.57%

$5,739

-1.39%

$5,106

15

24

North Carolina

10.63%

$5,773

-0.80%

$5,046

20

25

Oklahoma

10.70%

$5,809

-0.17%

$4,712

13

26

New Mexico

10.73%

$5,825

0.10%

$4,933

23

27

Virginia

10.89%

$5,913

1.61%

$7,165

29

28

Vermont

10.89%

$5,913

1.62%

$6,651

42

29

Missouri

11.02%

$5,981

2.77%

$5,169

19

30

Texas

11.12%

$6,034

3.69%

$5,196

22

31

Massachusetts

11.52%

$6,253

7.45%

$9,069

47

32

Minnesota

11.59%

$6,291

8.11%

$6,911

32

33

Maine

11.63%

$6,316

8.53%

$5,941

40

34

Washington

11.72%

$6,363

9.34%

$7,806

37

35

Indiana

11.87%

$6,444

10.74%

$5,549

24

36

Maryland

11.92%

$6,470

11.19%

$9,371

44

37

Kentucky

12.01%

$6,522

12.08%

$5,162

28

38

Mississippi

12.14%

$6,589

13.23%

$4,810

25

39

Kansas

12.28%

$6,665

14.53%

$5,897

30

40

Arkansas

12.28%

$6,665

14.54%

$5,005

27

41

Pennsylvania

12.33%

$6,691

14.98%

$6,472

39

42

New Jersey

12.63%

$6,855

17.79%

$10,969

46

43

Iowa

12.84%

$6,968

19.75%

$6,167

33

44

Michigan

13.00%

$7,058

21.28%

$5,741

31

45

Ohio

13.06%

$7,087

21.79%

$5,947

36

46

Connecticut

13.56%

$7,361

26.49%

$10,155

50

47

Rhode Island

13.57%

$7,367

26.60%

$8,531

48

48

New York

13.58%

$7,370

26.64%

$9,495

51

49

Wisconsin

13.60%

$7,384

26.89%

$7,091

41

50

Nebraska

13.80%

$7,493

28.75%

$6,589

38

51

Illinois

14.76%

$8,011

37.66%

$8,162

43

If your plans include looking at a possible Naples purchase, I’d love to discuss all that our area has to offer, so please reach out to me at 239-273-4006 or contact me via email at [email protected] My website at movetonaplesnow.com also contains additional topical blogs and information about my VIP Buyer Program. Fay Mlinarich, PA., Premiere Plus Realty.


Fay Bamond Headshot
Author:
Phone: 239-273-4006
Dated: March 21st 2017
Views: 83
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