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

CM’s closed session ends with no action

Published

on

By BARBARA GREEN
editor@bowienewsonline.com
Bowie City Council members finalized the budget and proposed tax rate during its Aug. 11 meeting, but it also convened into a one hour closed session to discuss the city manager’s employment, duties and evaluation.
The council went into closed session at 6:40 p.m. without City Manager Bert Cunningham and he was called in there a little more than 20 minutes later. He came out about 15 minutes later with council returning to open session at 7:37 p.m. and taking no action.
While there was no mention of a specific issue regarding the city manager, during the July 28 meeting there was an incident reported on the TV news.
While a citizen was speaking at the podium during citizen comments, the city manager was seen holding up his phone appearing to be filming the speaker and audience. Mayor Gaylynn Burris could be seen touching his arm and indicating for him to stop.
The citizen, Ethan Trim, said he was not aware of it until afterward, but someone told him Cunningham said he was “trying to make him nervous.” The city staff has made no statement in regard to this topic.

Read the full story in the Thursday Bowie News.

Continue Reading

NEWS

Published

on

A BOIL WATER NOTICE remains in effect for City of Bowie, TX water customers along Highway 81 from Parker Road to Old Bowie Lake. Affected customers should use bottled or boiled water for drinking, cooking, or brushing teeth. Results of water testing should be available shortly after noon today. If the testing is good, the BOIL WATER NOTICE may be lifted shortly thereafter

Continue Reading

NEWS

Repairs prompt boil order

Published

on

A boil water order was implemented Monday afternoon for the area served at U.S. Highway 81 from Parker Drive to Old Bowie Lake as water line repairs were made. The order remains in place today. If you are affected by this order and need bottled water call 940-977-4941.

Continue Reading
Ad
Ad
Ad
Ad
Ad
Ad
Ad

Trending