Ohioans have seventh-highest tax burden

The median Ohio household pays $5,947 in annual state and local taxes, or an overall effective tax rate of 13.06 percent — the seventh-highest in the nation, according to a new report from WalletHub, a personal finance website.

The median Ohio household pays $5,947 in annual state and local taxes, or an overall effective tax rate of 13.06 percent — the seventh-highest in the nation, according to a new report from WalletHub, a personal finance website.
Business
By Randy Tucker
March 20, 2017
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The median Ohio household pays $5,947 in annual state and local taxes, or an overall effective tax rate of 13.06 percent — the seventh-highest in the nation, according to a new report from WalletHub, a personal finance website.

WalletHub combined several state and local taxes — including sales taxes, property taxes and income taxes — to create an overall effective tax rate for median households in each state.

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By comparison, Illinois had the highest state and local tax rate 14.76 percent, or $8,162 a year, according to the report. Alaska had the lowest overall effective tax rate at $5.64 percent, or $3,060 annually for median households.

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Ohio taxpayers were hit hardest by property and income taxes, which had effective tax rates of 5.15 percent and 3.34 percent, respectively — the twelfth and fifteenth highest rates in the nation, according to WalletHub.

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About the Author

Randy Tucker