How Do Tax Rates in Illinois Compare to Other States? Not Good

This time of the year should be something to get excited about - the weather is slowly getting a little warmer and the days are getting a little longer. Spring is almost here. Despite those positives, this time of year also brings one big negative that stresses out a lot of Americans - TAX TIME.

Photo by The New York Public Library on Unsplash

I'll admit that (as of this writing) I have not done my taxes yet - I put it off until the last minute every year. It's a pain in the butt and I just don't like messing with it. I guess I should be glad that I don't live in Illinois because, according to this report, taxpayers there have a lot more to stress about than here in Indiana.

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The personal finance website WalletHub.com release a report that identifies the states with the lowest and highest tax rates. They compared the 50 states and the District of Columbia across four types of taxation:

Real-Estate Tax
Vehicle Property Tax
Income Tax
Sales & Excise Tax

I said in the title of this article that it's not good for Illinois, but that is a bit of an understatement. If fact, it can't get any worse for Illinois. The Land of Lincoln ranks 51st (dead last) on the list, meaning they have the highest tax rates in America.

Photo by Jan Weber on Unsplash

According to this study, Illinois has a total state and local tax rate of 15.05% which equates to a total of $10,463 in taxes owed each year. Compare those figures to the #1 state on this list - Alaska. The total state and local tax rate in Alaska is 6.05% which means Alaskans pay, on average, $4,204 in taxes every year.

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Indiana and Kentucky scored a little better, but still nothing to write home about. Indiana landed at #35 on the list with a rate of 11.76% and $8,173 in taxes. Kentucky is down at #40 with a tax rate of 12.50% and $8,687 in taxes.

See the rest of the study results HERE, and scroll over the map below to see how the rest of the country ranked.

Source: WalletHub

Illinois Town Will Make You Feel Like You are in the Movie HONEY, I SHRUNK THE KIDS

Remember the 80s classic "Honey, I Shrunk the Kids"? What's it like to feel like a tiny ant looking up at the giant world around you? There's a small town only two hours from the tri-state that is home to over 20 giant items. Being surrounded by them definitely gives you the perspective of an itty bitty bug.

Lacey Marsh and her family visited the small town during spring break this year and shared her photos with us. She said, "It's a really neat place! And people were very friendly."

For more on the attractions at Casey, IL, visit the website bigthingssmalltown.com.

12 Illinois Waterfalls All Within a 2 Hour Drive of Evansville Indiana

Check out these incredible photos captured by Grant Twiss Outdoor Photography featuring 12 Southern Illinois waterfalls that will have you ready to pay a visit to Shawnee National Forest and the surrounding area.