Illinois has one of the 10 Highest Tax Burdens on it’s Citizens
When you rank all the states by residents in the state with the biggest tax burden, Illinois comes out in the top 10 of the list and places a heavy tax burden on its citizens.
According to the financial website WalletHub.com, Illinois ranks as one of the ten worst states when it comes to the tax burden it places on its citizens. Tax season is underway and it can be confusing to figure out which states are worst overall for taxes, so what WalletHub did was rank the states based on the "Tax Burden" of their citizens, on the site they say...
"...the “tax burden” helps cut through the confusion. Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes. And it isn’t uniform across the U.S., either."
According to their rankings living in Illinois means you have the 10th worst tax burden in the country, behind New York in 1st followed by Hawaii, Maine, Vermont, Minnesota, New Jersey Connecticut, Rhode Island, and California. They say the total tax burden for a taxpayer in Illinois is 9.70% compared to 12.75% in New York. What fascinates me is that their data shows Illinois is high on this list mainly because of ONE thing...Property tax burden. Besides the property tax burden, Illinois ranks 30th for individual income tax and 23rd for sales tax. Now, where does the Show-Me State of Missouri end up on the list? Wayyyy down in 38th place with an overall tax burden score of 7.80%. To see all the data and the full list for yourself click here!
Once again Illinois lawmakers please hear my plea... You can't fix Illinois' crappy weather, please at least make it more affordable to live here!