Illinois Hits New Low With High Tax Rate

Image result for property taxesIllinois now has the highest tax burden in the country. A new study from says that Illinois now has the highest collective state and local tax burden. The median tax rate for an average Illinois household is 14.76%. In real dollars the median household pays an average of $8,162 annually, which is 37.66% higher than the national average. WalletHub found that the biggest tax offender in Illinois was property taxes. Illinois has an effective property tax rate of 7.56%, 2nd only to New Jersey. The full analysis from WalletHub can be found here

In addition a recent poll from the Paul Simon Public Policy Institute found that 47 percent of registered voters in Illinois say they want to move out, with 27 percent of them citing property taxes as their top reason.

State Representative Lindsay Parkhurst:

“This report confirms what everyday Illinoisans are feeling, that we are taxed to the hilt. It is further proof that we cannot and should not attempt to tax our way out of our current budget woes. We need economic growth and accountable government spending.”