Top 10 Tax-Friendliest Cities
Daily Real Estate News May 11, 2007
A recent survey by the District of Columbia government identified the metro areas that take the smallest tax bite. The survey looked at the tax burden for families in the largest city in each of the 50 states and Washington, D.C.
The D.C. government in its survey accounted for local income, sales, real estate, and car/personal property taxes for couples at various income levels. The survey' s rankings provided below from Kiplinger's Personal Finance Magazine are based on a dual-income couple, with one school-age child and a combined gross income of $75,000 in 2005.
Here are the top 10 metro areas that are under those circumstances claim the lowest percentage of taxes:
1. Achorage, Alaska: 4.1 percent
2. Cheyenne, Wyo.: 4.3 percent
3. Jacksonvilee, Fla.: 6.6 percent
4. Las Vegas, Nev.: 5.4 percent
5. Honolulu, Hawaii: 5.6 percent
6. Memphis Tenn.: 6.1 percent
7. Sioux Falls, S.d.: 6.3 percent
8. Fargo, N.d.: 6.3 percent
9. Houston, Texas; 6.3 percent
10. Billings, Mont. 6.7 percent
Not surprisingly, seven of the top 10 cities above are in states with no income tax.
Source: Kiplinger Personal Finance (05/07)