Connect with us

NEWS

Tax rates across the country

Published

on

Tax season can be stressful for the millions of Americans who owe money to Uncle Sam. Every year, the average U.S. household pays more than $7,800 in federal income taxes, according to the Bureau of Labor Statistics. And while we’re all faced with that same obligation, there is significant difference when it comes to state and local taxes. Taxpayers in the most tax-expensive states, for instance, pay three times more than those in the cheapest states.

Surprisingly, though, low income taxes don’t always mean low taxes as a whole. For example, while the state of Washington’s citizens don’t pay income tax, they still end up spending over 8% of their annual income on sales and excise taxes. Texas residents also don’t pay income tax, but spend 1.83% of their income on real estate taxes, one of the highest rates in the country. Compare these to California, where residents owe almost 5% of their income in sales and excise taxes, and just 0.77% in real estate tax.

As this year’s tax-filing deadline, April 15, comes closer, it’s fair to wonder which states give their taxpayers more of a break. WalletHub searched for answers by comparing state and local tax rates in the 50 states and the District of Columbia against national medians. To illustrate, we calculated relative income-tax obligations by applying the effective income-tax rates in each state and locality to the average American’s income. Scroll down for the complete ranking, commentary from a panel of tax experts and a full description of our methodology. Surprisingly, though, low income taxes don’t always mean low taxes as a whole. For example, while the state of Washington’s citizens don’t pay income tax, they still end up spending over 8% of their annual income on sales and excise taxes. Texas residents also don’t pay income tax, but spend 1.83 percent of their income on real estate taxes, one of the highest rates in the country. Compare these to California, where residents owe almost five percent of their income in sales and excise taxes, and just 0.77 percent in real estate tax.

As this year’s tax-filing deadline, April 15, comes closer, it’s fair to wonder which states give their taxpayers more of a break. WalletHub searched for answers by comparing state and local tax rates in the 50 states and the District of Columbia against national medians. To illustrate, we calculated relative income-tax obligations by applying the effective income-tax rates in each state and locality to the average American’s income. Scroll down for the complete ranking, commentary from a panel of tax experts and a full description of our methodology.

Surprisingly, though, low income taxes don’t always mean low taxes as a whole. For example, while the state of Washington’s citizens don’t pay income tax, they still end up spending over eight percent of their annual income on sales and excise taxes. Texas residents also don’t pay income tax, but spend 1.83% of their income on real estate taxes, one of the highest rates in the country. Compare these to California, where residents owe almost 5% of their income in sales and excise taxes, and just 0.77% in real estate tax.

As this year’s tax-filing deadline, April 15, comes closer, it’s fair to wonder which states give their taxpayers more of a break. WalletHub searched for answers by comparing state and local tax rates in the 50 states and the District of Columbia against national medians. To illustrate, we calculated relative income-tax obligations by applying the effective income-tax rates in each state and locality to the average American’s income. Scroll down for the complete ranking, commentary from a panel of tax experts and a full description of our methodology.

Source: WalletHub

Continue Reading

NEWS

Bowie Council face brief agenda Oct. 13

Published

on

Members of the Bowie City Council will face a brief agenda when they meet at 6 p.m. on Oct. 13 in the council chambers.
Following routine reports and consent agenda items, the council will consider a resolution authorizing submission of the city’s 2027/2028 Texas Community Development Block Grant application to the Texas Department of Agriculture.
Then council members will consider approving Bob Blackburn for appointment as a reserve police officer with the Bowie Police Department.
Following an executive session, the council will discuss and potentially take action regarding the annual employment evaluations and duties of both the City Secretary and the Municipal Court Judge.

Continue Reading

NEWS

Rains bring relief to parched county

Published

on

After nearly three months of no rain, Mother Nature brought the showers this past week.
Downtown Bowie rain reports varied from 7 to 8 inches, while the Saint Jo area reported a 10-inch total. The city water plant in Bowie reported 5.55 inches on Sept. 30 with 1.6 Oct. 1-3.
Nocona saw a total of 6.31 inches of rain across Sept. 26 to Oct. 3.
On Oct. 6, Lake Amon G. Carter saw a level of 917.39 mean sea level rising to 81.31% full. Just one week earlier the lake was 73.6% full, while one year ago it was 94.01%. The lake is full at 920msl.
Lake Nocona was 73.7% full at 823.02 on Oct 6. One week earlier it was 70.41% full and one year ago it was 92.41%. The lake is full at 827.5 msl.

Continue Reading

NEWS

Data centers worrying citizens

Published

on

By BARBARA GREEN
editor@bowienewsonline.com
One Montague County City has joined the battle against any data centers being built in this county and there is a petition drive underway to urge the commissioner’s court to keep data centers out of Montague County.
At a Sept. 28 called meeting of the Saint Jo City Council, officials unanimously approved a resolution stating its opposition to the “siting, permitting, construction or operation of data centers and similar hyperscale computing facilities within the city limits or the city’s extraterritorial jurisdiction.”
City Secretary Debbie Dennis said several citizens approached Councilor Jack Dunn about their data center concerns and he helped prepare a resolution. The council gave unanimous support.

Read the full story in your Thursday Bowie News.

Continue Reading
Ad
Ad
Ad
Ad
Ad
Ad
Ad

Trending