, the personal finance company,聽has of the best and worst states for taxes, and Hawaii places near the bottom.
Only California scores聽worst for “tax friendly-ness.”
The survey is based on聽income taxes, sales taxes, gas taxes, 鈥渟in鈥 taxes (you know, booze and ciggies) and other “tax rules and exemptions” across all 50 states and Washington, D.C.
Hawaii’s notes, “Temporary income tax rate hikes expired in 2016, lowering the top rate from 11 percent to 8.25 percent. But that top rate kicks in at just $48,000 for individual filers. Also, don’t be fooled by Hawaii’s 4 percent sales tax rate. Since it’s due on virtually all transactions, the pocketbook effect is severe.”
But there is also聽this: “A ray of sunshine: Property taxes as a percentage of home value are the lowest in the U.S.”
鈥淲here you live can have a dramatic impact on your wallet and savings. The Tax Map is an extremely valuable resource 鈥 especially for those considering a move to a different state,鈥 said Sandra Block, senior associate editor at Kiplinger鈥檚 Personal Finance, in a press release.
Block added, 鈥淚t鈥檚 worth pointing out, though, that there are tradeoffs to living in a state with lower taxes鈥攕ince there are likely less funds going to roads, bridges, schools and various other public services we may otherwise take for granted.鈥
The most friendly tax states are Wyoming, Florida and Nevada.
GET IN-DEPTH REPORTING ON HAWAII鈥橲 BIGGEST ISSUES
Support Independent, Unbiased News
Civil Beat is a nonprofit, reader-supported newsroom based in 贬补飞补颈驶颈. When you give, your donation is combined with gifts from thousands of your fellow readers, and together you help power the strongest team of investigative journalists in the state.
About the Author
-
Chad Blair is the politics editor for Civil Beat. You can reach him by email at cblair@civilbeat.org or follow him on X at .