Pa. (WTAJ) — When it comes to places to live, US News ranked PA at number 41. When it comes to taxes though, WalletHub reports PA at number 49, barely beating out Connecticut.
Yahoo Finance reports: WalletHub looked at four different types of taxation: Real-Estate Tax, Vehicle Property Tax, Income Tax, and Sales & Excise Tax.
Here’s a breakdown of each, based on WalletHub’s data:
Being a homeowner in New Jersey isn’t cheap at all — in fact, NJ residents see the highest effective real-estate tax (otherwise known as property tax) rate in the country, at 8.13%. Trailing behind are Illinois (7.71%), New Hampshire (7.33%), Connecticut (6.89%), and Wisconsin (6.47%). WalletHub calculated these rates by dividing the effective median real estate tax in that state to the median income.
Gas also taxes play a role. Alaska pays the lowest per gallon, followed by Missouri, Mississippi, New Mexico, and Arizona. Pennsylvania pays the highest amount, with coastal states California, Washington, Hawaii, and New York not far behind.
And if property taxes are an issue, note that Hawaii has the lowest rate at 0.90%. Alabama, Louisiana, D.C., and Colorado aren’t far behind, all under 2%.