Taxes, what taxes?

If you what to know your total tax burden, or if you are thinking of relocating to a different state, check out this link which explains the total income, property and sales taxes for each state.

https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494

5 comments

  1. I realize this simply summarizes on average how taxpayers fare in each state, whereas some nuance is needed to see
    how I specifically would gain or lose if moving to another state. Nevertheless it is a useful starting point for comparison purposes. I think Jonathan Clements said it best years ago, that as a new grandpa, he would move to Cleveland if that is where the grandkids lived.

    Liked by 1 person

  2. This info is of zero use. According to the chart I should of paid $611 in income tax to the state of Montana. I paid $85 for 2021 tax year. Montana does not have a sales tax. But it list 1.28 %. – Maybe for rental car and Motel tax, but I do not Rent cars or use Motels in my home state. More useless info, like best state to retire in. A state that you can afford to live in and stay out of debt; and none of the costal states would work for me.

    Liked by 1 person

    1. Agreed.
      NJ sales tax is 6.625% not 2.59% and is some areas it is only 3.3125%. NJ doesn’t tax food like some states. Tennessee sales tax is 7% plus a local rate and the state of Tennessee has a 4% sales tax on food plus the local rate. Since I know that NJ sales tax figure is wrong, can I trust their other results?
      The income tax rate is based on what income? Do pensions get taxed? Property taxes do not count HOA fees that are very popular in some states and it is the HOA that provides some of the services that in other places is part of your property taxes like trash and snow removal.
      These sites are a good start but usually none of these sites match their results to other sites due to their methodology. Cost of living and taxes can vary within a state, think rural and city so it is also not fair to paint the whole state with one result.
      While Alaska might have a low tax burden, everything else costs more too so you just can’t choose by the tax burden..

      Liked by 1 person

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