The difference between taxes in one place versus another comes down to city and state taxes. That’s right, in some high taxed places, you get taxed not only by the state but by the city government as well. Here are some cities that have the highest amount of taxes in the county.
Highest Taxed City – Chicago
The tax burden in Chicago, Illinois is impressive, impressively devastating to a citizen’s wallet. According to smartasset.com, a family making $75,000 will have to pay $2,732 to Illinois state income taxes. On top of that, Illinois has the highest property taxes in the nation, at roughly 2.7%. According to a recent study though, the sales and auto taxes are not quite as bad as some. At the end of the day, there are a few worse places to live for your pocket book.
Highest Taxed City – Bridgeport
What is one of those worse places to live? Bridgeport, Connecticut. A resident of this city would pay a whopping 17.70% of their income just in State/City sales, property, auto and income tax. Add the standard federal taxes on top of that and you are in for a serious shakedown come tax time.
Highest Taxed City – Newark
What city is almost as bad as Bridgeport? Newark, New Jersey. Residents of Newark pay roughly 14.50% of their income. Similar to Bridgeport, this is mostly due to an extremely high property tax.