Even though tax day has been postponed because of the coronavirus, Americans will still end up having to pay their taxes by July 15.
However, the amount of taxes people pay depends on what state they live in. For example, some states have little to no income tax, but have high sales tax or high real estate tax.
Earlier this month, WalletHub published a report that calculated which states — as well as Washington, D.C. — have the highest and lowest tax rates overall.
To calculate the results, the personal finance website looked at four types of taxes in all 50 states and Washington, D.C. Those taxes were real estate tax, vehicle property tax, income tax and sales & excise tax.
Aside from the overall ranking, WalletHub also reported how states ranked in specific taxes on gas, cigarettes and food…Read more>>