Study: Illinois is 2015’s Worst State To Be a Taxpayer

Telling us something many of us likely could guess, WalletHub.com has a new study out saying Illinois is the worst state to be a taxpayer in 2015. Hooray! We're #1!! And, as you can see in the chart on this page, it's not even that close.

Here's some of the specifics:

Illinois Tax Rates (1=Best, 25 =Avg.):

• 30^th – Income Tax
• 50^th – Real Estate Tax
• 1^st – Vehicle Property Tax
• 27^th – Sales & Excise Tax

According to the website, here’s how they figured out the rankings:

In search of answers, WalletHub analyzed how state and local tax rates compare to the national average in the 50 states as well as the District of Columbia. For example, we calculated relative income tax obligations by applying the average American’s income to the effective income taxes rate in each state and locality. This approach differs from our report on the Best States to Be Rich & Poor from a Tax Perspective, which considers tax obligations relative to the average income in each state.

 

You can see more of the detailed findings at WalletHub.com.