New Ranking Shows Tax Burden in Illinois Greater than California?
My eyes did a double-take when I saw this as I thought there was no way it could be accurate, but I've learned it is. A new ranking claims the tax burden in Illinois has even surpassed that of California. The numbers don't lie.
I want to be clear that I love Illinois. This is not an anti-Land of Lincoln diatribe although I realize that narrative is quite popular on the net these days. No, this is just data recently shared by Wallet Hub. They broke (appropriate word) down the states with the highest and lowest tax rates. In this case, the lighter-colored your state is, the worse your tax burden is. Notice that Illinois is a pale white.
Let's compare the local and state tax rates on a median household in both Illinois and California:
- California 9.63%
- Illinois 16.51%
Now, let's look at the annual local and state taxes on that same household:
- California $7,276
- Illinois $12,479
The perception is that California is the land of sky-high taxes and everyone is fleeing the state. While California does have issues, it's technically a less-taxed state when compared to Illinois which absolutely shocks me.
I'm not a political person and I'm not trying to make a political statement. I'm just looking at the raw numbers and they say that the tax burden in Illinois is greater than that of California. It's a strange and somewhat sad reality to come to grips with no matter which side of the aisle you are sympathetic to.
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