Anybody who understands the tax system knows that working men and women are taxed too much. Everyone knows the three big ones - income tax, sales tax, and property tax. In Illinois we feel them all, but in many states these taxes vary.
Oregon, Montana, New Hampshire, Alaska, and Delaware have no general sales tax. Illinois is one of the highest for state sales tax at 6.25% plus extra local sales tax on top of that, which can get as high as 10.5%! Could you imagine that... buying something and paying no sales tax on it? That would be great. Illinoisis one of the highest for state sales tax at 6.25% - plus extra local sales tax on top of that, which can get as high as 10.5%!
Some states have NO state income tax. That's right, none. Nine states to be exact: Washington, Nevada, Texas, Wyoming, South Dakota, Alaska, Tennessee, Florida, and New Hampshire. What about Illinois?... 5%.
All states receive property taxes but some are better than others... by a long shot! The state with the best percentage of home value paid in property tax is Louisiana @ .18%. Other states with a fair property tax include Alabama ( .33%), Delaware ( .43 %), West Virginia ( .49%), South Carolina ( .50%), and Arkansas ( .52%). Illinois is one of the highest @ 1.73%!
Let me explain in terms of money - If you had a house worth $200,000, (or should I say, the government says it's worth $200,000) you would have to pay $3,460 every year. In Louisiana you would have to pay (are you ready for this?), $360! In Alabama you would pay only $660, and in Delaware you would pay $860.
Wyoming is one of the best states overall, with no state income tax, low sales tax ( 4%, and no tax on food), and .58% of property value due the state. Even our neighbor to the north, Wisconsin, has a low sales tax... 5%, with no tax on food.
I have one question. Forget that, I have many questions! Okay, I have one main question. With all the money (our money!) pouring into the state treasures, how is Illinois broke!! This I know... we shouldn't be!