STATE and LOCAL TAXES ARE A HUGE PERCENTAGE OF OUR INCOME - WHAT WILL THE FUTURE BRING?

Reblogger Randy Hooker
Real Estate Broker/Owner with Dreamcatcher Realty / Greater Phoenix Area

 

Here's another great and timely post by Lenn Harley.  How does YOUR state rank?

 

Randy Hooker -  Chandler, Gilbert, Mesa, Queen Creek, Phoenix, Arizona Real Estate

 

Original content by Lenn Harley 303829;0225082372

Nannette Saunders offers an interesting post today comparing real estate tax rates for counties in her market area of Lynchburg, Virginia.   

TAXES ARE ON THE WAY UP.  If we can believe the prognostigators in the media, our taxes are likely to increase dramatically in the near future across the board.  Below is a table showing state and local tax revenue as a percentage of income.

The information below represents the latest aggregated information I could find and was compiled in 2006.  It will be very interesting to review the same information in a couple of years.   

Of course, state and local taxes are a percentage of your gross annual income.  The table below does not include federal income taxes. 

STATE State and Local Taxes as a 
  Percentage of Annual Income
Alabama 9.60%
Alaska 15.10%
Arizona  11.00%
Arkansas 11.70%
California 12.10%
Colorado 9.80%
Connecticut 11.90%
Delaware 11.60%
Florida 10.80%
Georgia 10.90%
Hawaii 14.00%
Idaho 11.20%
Illinois 11.20%
Indiana 11.90%
Iowa 11.00%
Kansas  11.70%
Kentucky 11.50%
Louisiana 14.00%
Maine 14.30%
Maryland  11.10%
Massachusetts 10.90%
Michigan 10.90%
Minnesota 11.80%
Mississippi 11.10%
Montana 11.10%
Nebraska 11.90%
Nevada 10.80%
New Hampshire 9.20%
New Jersey 12.50%
New Mexico 12.90%
New York 15.70%
North Carolina 11.30%
North Dakota 11.70%
Ohio 11.80%
Oklahoma 10.60%
Oregon 10.80%
Pennsylvania 11.40%
Rhode Island 12.20%
South Carolina 10.30%
South Dakota 9.10%
Tennessee 9.30%
Texas 10.00%
Utah 11.80%
Vermont 13.50%
Virginia 10.50%
Washington 11.20%
Washington D.C. 14.40%
West Virginia 12.30%
Wisconsin 12.30%
Wyoming 16.60%
   

  

Lenn's House

Lenn's home in Loudoun County, Virginia - Real Estate Tax - $4,854.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-mail.

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Ambassador
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Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Randy, now that is depressing. I am going to have to move to South Dakota. Now I have to see if I can find a good realtor there, LOL. I want to say thanks, but.... now I am depressed. :(

May 25, 2009 01:37 PM #1
Rainer
105,729
Teresa Harris
Lake Real Estate, LLC - Denver, NC
Denver . Lake Norman . Charlotte

Hi Randy, great info here. Looks like NC is the middle of the road.

PS: Lenn's house is gorgeous!!

May 25, 2009 03:21 PM #2
Rainer
90,008
Randy Hooker
Dreamcatcher Realty / Greater Phoenix Area - Gilbert, AZ
Gilbert, Chandler, Mesa, Queen Creek

Andrea ~ Does anybody really live in South Dakota?   LOL  But hey, before you go jumping off a tall barn, just be glad you don't live in NY!   ;)

Teresa ~ I agree with you about Lenn's house.  Next time she tells me she has to clean house, I don't think I'll give her such a hard time about it!   :)

May 25, 2009 05:07 PM #3
Rainer
478,183
Not a real person
San Diego, CA

Mine is higher than what is listed there. I wonder where those numbers came from, especially since it says "state and local taxes."

Jun 17, 2009 06:09 PM #4
Rainmaker
2,191,704
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Wow, Wyoming is really expensive. I wonder why. It's got Yellowstone National Park, Jackson Hole and part of the Beartooth Mountain range. Maybe there aren't very many people.

sacramento short sale agent

Jul 04, 2009 04:22 AM #5
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Gilbert, Chandler, Mesa, Queen Creek
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