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ILLINOIS
RANKED “LEAST TAX FRIENDLY” STATE FOR MIDDLE-CLASS FAMILIES
Illinois Policy Institute/
Patrick Andriesen
Kiplinger report finds Illinois’ sales,
income and property taxes on middle-income families rank among the
highest in the nation, making prospective residents think twice about
moving to the state.
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 Illinois is the “least tax
friendly” state for middle-class families in the U.S., according to a new
Kiplinger report.
The annual state-by-state tax analysis found a middle-income couple with two
children in Illinois pays some of the highest taxes on income, sales and
property in the nation, earning the Land of Lincoln the lowest rank of any
state.
Connecticut was rated second worst, while Wyoming claimed the top spot.
The analysis determined Illinois’ 4.95% flat state income tax rate is tied for
ninth-highest levied against middle-class taxpayers in the country. Illinoisans
pay the seventh-highest combined state and local tax rate at an average 8.83%.
Kiplinger notes that burden on the middle class grows substantially when you
consider Illinois residents already pay the second-highest property taxes in the
nation.
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Nearly half of Illinoisans have thought about
leaving the state, citing high taxes as their No. 1 reason.
Kiplinger said it could also be making prospective residents think
twice about moving to Illinois.
Illinois just saw its first Census population drop in 200 years.
Residents are leaving for states with lower tax rates and better job
and housing prospects such as Texas, Indiana, Florida and
California. All of those states ranked more tax friendly to
middle-income residents in the Kiplinger report. |
