 | Daily Real Estate News | May 11, 2007 |
Top 10 Tax-Friendliest Cities
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 10 metro areas that under those circumstances claim the lowest percentage of taxes.
- Anchorage, Alaska: 4.1 percent
- Cheyenne, Wyo.: 4.3 percent
- Jacksonville, Fla.: 4.6 percent
- Las Vegas, Nev.: 5.4 percent
- Honolulu, Hawaii.: 5.6 percent
- Memphis, Tenn.: 6.1 percent
- Sioux Falls, S.D.: 6.3 percent
- Fargo, N.D.: 6.3 percent
- Houston, Texas: 6.3 percent
- 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)
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