How ‘Tax-Friendly’ Is Fla. Compared to Other States?
A MoneyGeek study including IRS, state, property, and sales taxes listed Florida. as the No. 4 least-expensive tax state. Total tax costs are about 5.6% of total income.
TAMPA, Fla. – It’s tax filing season and depending on where you live in the U.S., you could be forking over a very different-sized chunk of your income.
An analysis by MoneyGeek ranked every state by how “tax-friendly” it is. The analysts didn’t just look at income tax – they also factored in property taxes, plus state and local sales taxes.
To determine where people pay the highest tax burden, MoneyGeek looked at a hypothetical average family: a married couple with one kid, earning the median national income of $82,852, and owning a $349,400 home. The study breaks down how much this fictional family would pay in taxes in every state.
The states with the lowest tax burden, according to the analysis, were:
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