This isn't new, but it's from April of this year, so it would still be valid. Overall, New England doesn't fare well, and there are a couple of surprises, which as West Virginia, Mississippi, and Iowa. I don't know if it means anything, but eleven of them are states that Trump lost in 2016. Highest taxes states, counting state and local taxes, including property taxes, individual income taxes, and sales and excise taxes. 1. New York 2. Hawaii 3. Maine 4. Vermont 5. Minnesota 6. Connecticut 7. Rhode Island 8. Illinois 9. New Jersey 10. California 11. Ohio 12. Maryland 13. West Virginia 14. Iowa * 15. Mississippi * * Tie Source: CNBC
@Ken Anderson, how does it feel to be number three? I would have expected either Connecticut or California to be in that place. Lucky you!
We like to compete wherever we can. A few years ago, we were number one on a list of the worst places to start a business. We were so proud. Our Republican governor, while I like his rhetoric, is heralded by Republicans who aren't paying attention for his efforts to lower our state income taxes. Only he did so by imposing new taxes on products and services that were never taxed before, including yard sales and the kid who mows your lawn. To no avail, a few of us tried to point out that a future governor or legislature is going to simply raise the income tax back up to where it was before, and then we'll be stuck with that as well as all the new taxes. Maine Republicans are wholly incapable of looking beyond the "R" after someone's name, which is why we reelect people like Susan Collins.
Those rankings can be a little confusing. I live in New York and do not question the notion that we pay enough in taxes. I lived in Pennsylvania for a few years and was told that the taxes/costs would be much lower. I found out that the folks in Pennsylvania were just better at hiding the pea under the walnut shell and that overall costs of living were about the same.
Our taxes are very low, but our cost of living is very high. When we travel, every place we have been is cheaper, but we don't own property in other states.
Despite living in Maine, my taxes aren't so high. Our property taxes in Millinocket are literally the highest in the state right now, as far as the mil rate goes but the house isn't assessed overly high. We're paying very little for our land up north; since our camp is on blocks, it's not considered a permanent building so that property is taxed as undeveloped. A lot of the other stuff that Mainers are overtaxed on, we don't buy. However, this would not be the place to open a business or to earn too much money. That's why, when people begin to do well financially, they leave Maine, both businesses and individuals.
The old brick bungalow I grew up in in Berwyn, Illinois, was taxed when I left there around $500 per year. House was built in 1923, I left in 1972. Taxes on it today, 90+ years old, are pushing close to $5,000! The house sat on a 35-foot wide by 100-foot deep lot. The house itself was 22 feet wide, about 50 feet long, around 1000+ sq. ft. living area. Compare to my present abode: Factory-built, "pit-set" in concrete block (can never be moved), 2002 vintage, on a 2-acre lot, 85,000 sq. feet, the house is 1680 sq. ft., my taxes are $600 per year. How does that compare to yours? Frank
About $400 for the house and a half acre, and just under $500 for a hundred acres up north, where our camp is.
@Ken Anderson No complaints, then. Taxation is something like a "creeping crud", many times masked via unusual names and circumstances, by the "Tax Man". For example, Nevada always touts it's lower taxes by calling out 61 various taxes present elsewhere, but not there. No State Income Tax, etc. However, we looked into living on that side of the river before settling on where we are: property taxes are much higher over there. Frank
Like Bea said if you include user fees, vehicle registrations, there probably isn't much difference between states. I'm in NY. My home is assessed at 139,000 I pay property of about 3000. Neither my pension or Social Security are taxed by the state. Next year when I turn 65 I will be eligible for "Enhanced Star" , which will reduce my chargeable assessment by about 50,000 dollars. Doesn't really matter, My family has been in NY for over 200 years and apparently liking it. My kids,grandchildren, and greatgrandchildren are all here so I will be staying also!