With tax day around the corner, a new study has some surprising findings about how much we Californians pay in state and local taxes.
With tax day around the corner, a new study has some surprising findings about how much we Californians pay in state and local taxes.
Yes, we know what you're thinking... How is California not ranked higher!? We asked one of our tax chat panel experts, Larry Pon who explained that there are other factors at play. For example, Californians also have a higher average income than other states, leading to a lower tax burden on paper.data to see who's paying the highest share of their personal income toward state and local taxes. They found that California ranked eleventh. While some tax rates vary by county, the entire state had an average burden rate of 9.24%.
And for property taxes... This study found Vermont with the highest burden; Alabama the lowest.
Again, CPA Larry Pon says this survey takes a general view. Every person's tax situation is unique, so your personal experience may compare differently in other states.
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