Taxes, taxes, and more taxes. It’s the time of year people are thinking about taxes as it is, once again, tax season. In recognition of the season that most people dread - not only due to the time-consuming paperwork involved - but due to the expense, as well, 24/7 Wall St., on Thursday, has turned out a list of the cities that are taxed the most - and least - in the United States.
According to their data, Bridgeport, Connecticut is the city in the United States that has the highest tax burden on its citizens. The city has an unemployment rate of 7.8 percent. It taxes a family of three persons who earns $150,000 the highest amount in the nation, at a tax expense of $33,208. That amount is higher than 22 percent of the family’s income going to local and state taxes. For a family earning $25,000, Bridgeport has the fourth-highest tax expense of $4,001.
Bridgeport is, by the way, quite well-to-do as 20 percent of its households assert an annual income of at least $200,000, which is more than any other metro area that was analyzed by the study.
The Most-Taxed Cities in the United States
- Bridgeport, Connecticut
- Philadelphia, Pennsylvania
- Milwaukee, Wisconsin
- Baltimore, Maryland
- Columbus, Ohio
On the other end of the spectrum are the cities with the least taxes. The city with the least taxes is Cheyenne, Wyoming which taxes a family earning $150,000 just $6,307, which is the lowest tax of a big city in the United States. Of note, Wyoming residents also only have to pay 14 cents in state taxes on a gallon of gas which had a ripple effect on good car ownership expenses.
The Least-Taxed Cities in the United States
- Cheyenne, Wyoming
- Las Vegas, Nevada
- Billings, Montana
- Anchorage, Alaska
- Sioux Falls, South Dakota