Survey: Illinoisans to pay over 10% of incomes to state, local taxes in 2025
Illinois will impose the nation’s seventh-highest state and local tax burden on residents in 2025. Taxpayers on average will pay over 10% of their annual income to support government, according to WalletHub.
From the article: "Of the three major tax categories tracked in the national analysis, WalletHub found property taxes consumed the largest portion of Illinoisans’ yearly earnings at 3.81%, followed closely by state excise and sales taxes at 3.78%."
These numbers seem very low to me, an Illinois resident. Anyone owning a home in the Chicago area with a value of $300,000-$500,000 is paying $8,000 to $15,000 a year in property taxes. The 2023 median income in Illinois was $42,062. 3.81% is $1,602. Laughable!
Also, the sales tax is 10 percent on just about everything you buy.
A reckoning is coming. Colonists revolted over a 3% tea tax. (Of course it wasn't the only tax, or only injustice.)
To put this in perspective, I saw a map from Fidelity recently that shows California pays a little more than 12%, and nearby Utah pays a little more than 10%. Utah is in the top 30 highest state and local taxes, lumped right in with Illinois.
Not what you'd expect.
Glad I got out of that shit hole in 2014!