Friday, August 21, 2015

Property Taxes

Interesting chart from the Tax Foundation showing comparative property tax rates in the 50 states.

The states with the highest rates fall into two categories.

States with high income tax rates:
New Jersey (1)
Illinois (2)
Connecticut (4)
Wisconsin (5)
Nebraska (7)
Michigan (8)
Vermont (9)
Rhode Island (10)

States with no income taxes:
New Hampshire (3) (the state does tax dividends and investment income)
Texas (6)

At least two states with high income taxes have kept property taxes under control due to Constitutional amendments passed in the 1970s and 80s:
Massachusetts (18)
California (34)

Property tax rankings for other states with no income taxes:
South Dakota (16)
Alaska (20)
Washington (23)
Florida (25)
Nevada (30)
Tennessee (38) (the state does tax dividends and investment income)
Wyoming (44)

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