Ohioans have seventh-highest tax burden

The median Ohio household pays $5,947 in annual state and local taxes, or an overall effective tax rate of 13.06 percent — the seventh-highest in the nation, according to a new report from WalletHub, a personal finance website.

The median Ohio household pays $5,947 in annual state and local taxes, or an overall effective tax rate of 13.06 percent — the seventh-highest in the nation, according to a new report from WalletHub, a personal finance website.
Business
By Randy Tucker
March 20, 2017
X

The median Ohio household pays $5,947 in annual state and local taxes, or an overall effective tax rate of 13.06 percent — the seventh-highest in the nation, according to a new report from WalletHub, a personal finance website.

WalletHub combined several state and local taxes — including sales taxes, property taxes and income taxes — to create an overall effective tax rate for median households in each state.

RELATED: Gov. Kasich warns of state tax shortfall

By comparison, Illinois had the highest state and local tax rate 14.76 percent, or $8,162 a year, according to the report. Alaska had the lowest overall effective tax rate at $5.64 percent, or $3,060 annually for median households.

RELATED: Tax season scams target seniors

Ohio taxpayers were hit hardest by property and income taxes, which had effective tax rates of 5.15 percent and 3.34 percent, respectively — the twelfth and fifteenth highest rates in the nation, according to WalletHub.

FIVE DAILY BUSINESS READS

ExploreTop hospital CEOs take home millions
ExploreJ.C. Penney to close four Ohio stores
ExploreGOP health bill threatens Ohio Medicaid
ExploreDayton absent from global airport rankings
ExploreBallooning bonuses boost pay for hospital CEOs
In Other News
1
Does Ohio need a paid family leave policy? New report says yes
2
EXCLUSIVE: Amazon considers building Ohio data center in Fayette County
3
Family-friendly entertainment center coming to Oxford: What it could...
4
See which area hospitals received an ‘A’ in patient safety grading
5
Solvita announces new owner of blood center, splits from tissue...

About the Author

Randy Tucker