Illinois Has the Highest Tax Rates in the Country
A ranking of the tax rates of all 50 states along with the District of Columbia has our state coming in dead last.
That's not the kind of news that will make your day any better, I know. But, we have to have something to complain about, right? This should cover it.
As this year’s tax-filing deadline, April 17, comes closer, it’s fair to wonder which states give their taxpayers more of a break. WalletHub searched for answers by comparing state and local tax rates in the 50 states and the District of Columbia against national medians. To illustrate, we calculated relative income-tax obligations by applying the effective income-tax rates in each state and locality to the average American’s income.
First the top 5 states with the lowest tax rate:
And the bottom 5:
47) Rhode Island
48) New York
Tax Rates in Illinois (1=Lowest; 25=Avg.):
- 51st – Overall Effective State & Local Tax Rate
- 30th – Income Tax
- 50th – Real-Estate Tax
- 27th – Sales & Excise Taxes